29 Olive Street, 14-18 Stockton Road, SR1
Mixed Use investment Opportunity
3,766 ft²
Guide Price £410,000
Key Features
Features
Mixed Use Investment Opportunity
High Footfall Area
Passing Rent £45,000
Significant Asset Management Potential
Excellent Transport Links
Long Established Retail Parade
Transport
Park Lane Metro Station- 0.2 Miles
Sunderland Station- 0.3 Miles
University Metro Station- 0.4 Miles
Property Description
LOCATION
The subject property is situated in Sunderland City Centre, in the ever-popular Park Lane area. The property benefits from good passing trade, due to the close proximity to Sunderland Interchange and Park Lane Metro Station being moments away. The premises occupies a prominent corner location, with various retailers located nearby serving the local neighbourhood catchment area.
DESCRIPTION
The investment is situated on a corner terrace parade between Olive Street and Stockton Road. Arranged as three ground floor retail units with a 6-bedroom HMO above. All retail units and flats are fully let generating an income of £45,000 with the potential to increase this further.
TENANT INFORMATION
The property is multi let as follows;
|
29 Olive Street, Sunderland, Tyne & Wear, SR1 3PE |
Commercial Ground Floor Retail Unit (55.4 Sq.m), currently tenanted
|
£14,000 Per Annum |
|
14 Stockton Road, Sunderland, Tyne & Wear, |
Commercial Ground Floor Retail Unit (26.6 Sq.m) |
£6,000 Per Annum |
|
15 Stockton Road, Sunderland, Tyne & Wear, SR1 3NW |
6-bedroom HMO, x2 reception rooms, x3 Shower Rooms (198 Sq.m) |
£28,800 Per Annum |
|
16 Stockton Road, Sunderland, Tyne & Wear, SR1 3NW |
Commercial Ground Floor Retail Unit (28.6 sq.m) |
Part of 29 Olive Street |
|
17/18 Stockton Road, Sunderland, Tyne & Wear, SR1 3NW |
Commercial Ground floor retail unit, kitchen and staff toilets (38.44 sq.m) |
£6,000 per annum |
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.
VIEWING
For general enquiries and viewing arrangements please contact Michael McGhin
Tel: 0191 536 4242
Email: michael.mcghin@bradleyhall.co.uk
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