Guide Price of £950,000
Washington is a town in the City of Sunderland. Washington is equidistant from the centres of Newcastle, Durham and Sunderland, making it an ideal commuter location with easy access onto the A1(M).
The property is situated in the Town Centre district of Washington close to the Galleries Shopping Centre. The property is on a purpose-built office campus which is adjacent to a roundabout on the A182 dual carriageway.
The subject property comprises converted office space offering 29 individual apartments over 4 floors. Each apartment benefits from kitchen/diner, bedroom and bathroom facilities and entrance is via a secure door entry system. The common areas are well-maintained and apartments are let individually on assured shorthold tenancies.
The whole of the property is let and managed by Coast & Country until March 2020 although it is agreed with the vendor that a prospective purchaser can recover possession and re-let directly upon completion of sale.
The passing rent is £110,000 per annum and it is anticipated that rental values in the immediate area for similar properties in the immediate vicinity are in the order of £90 per week equating to £135,000 per annum exclusive of £7 per week service charge for the maintenance of the block.
The property has the below approximate Gross Internal Area;
Lower Basement 113.4 m² (1,220 ft²)
First Floor 91.0 m² (980 ft²)
Second Floor 190.9 m² (2,055 ft²)
Third Floor 303.0 m² (3,261 ft²)
Total 698.3 m² (7,516 ft²)
Apartments assessed separately.
The property is available by way of Freehold with a guide price of £950,000 (Nine Hundred and Fifty Thousand Pounds).
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.
Each party is to bear their own legal costs involved in the transaction.
MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
For general enquiries and viewing arrangements please contact Peter Bartley or Joseph I‘Anson at Bradley Hall.
Tel: 0191 383 9999