Retail premises for sale in High Street West, Sunderland SR1

Location
High Street West is a pedestrianised shopping street within Sunderland city centre. The property is located immediately adjacent to McDonalds and is shown for identification purposes on the attached Goad plan.

As part of the Riverside Sunderland Masterplan High Street West and surrounding area has seen significant investment in recent years with the development of City Hall and Keel Square, the city’s main public open space and as a result F&B and leisure take up has increased significantly attracting occupiers such as The Keel Tavern, The Botanist, The Muddler, gdk and Holiday Inn. Refer to link to Riverside masterplan

Description
The property is arranged over ground first and second floors and is in very good order throughout having been extensively refurbished and refitted by the tenant in 2023.

Accommodation
The property briefly comprises as follows:-

ft2 m2
ground floor ft m
Sales Area Maximum
Int. Width 19’3” 5.89
Maximum Depth 75’1” 22.88
Sales Area 1227 113.99

Ancillary 397 36.88

First floor

Consulting rooms 590 54.81

Second floor

Ladder access only (not measured)

Tenure
The property is let to Boots Opticians Professional Services Limited crn 06779221 and Bowers & Mackinnon Optical Limited crn 06029371 on an Fri lease for a term of 5 years from 1st September 2021 (expiring 31st August 2026) at a rental of £18,500 pax. A copy of the lease is available upon request.
Covenant Risk Information
Boots Opticians Professional Services Limited have a Creditsafe score of 100 – very low risk. Bowers & Mackinnon Optical Limited have a Creditsafe score of 82 – very low risk.

Asking Price
Offers in the region of £195,000 plus VAT representing a Gross Yield of 9.5 %

Costs
Each party will be responsible for their own Legal Fees incurred in the transaction.

Viewing
Strictly by appointment with sole agents.

Contact – Mario Jaconelli or Alexa Reavley

•
•
• VAT
We are advised the property has been opted to tax therefore the selling price will be subject to VAT.

Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Value is £19,000. The Uniform Business Rate for the Rates Year 2024/2025 is 49.9p. If necessary, a written request should be made to the Local Authority for confirmation.

Money Laundering Regulations
In accordance with Anti –Money Laundering Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.

Disclaimer
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.

Ref C4234 EPC Energy Rating 83/D