£159,950

Sea Road, Fulwell

Mixed Use Investment Opportunity

Description

LOCATION
The subject property is situated on Sea Road in Fulwell, Sunderland. Sea Road is a thriving commercial street offering a wide variety of local businesses including retail shops, café and restaurants. The property is situated near the A1081, a key arterial road that provides easy access to Sunderland city centre to the south as well as broader connections to surrounding areas. Seaburn Metro Station is within walking distance from the property and provides direct links to Sunderland city centre and the wider South Tyneside area.

DESCRIPTION
A late 19th century brick built mid terrace property situated on the bustling and popular Sea Road in Sunderland. The ground floor features a well-established retail unit, currently operating as a card and gift shop. The shop benefits from a prominent and spacious storefront, drawing in steady foot traffic from the lively street. To the rear, the unit offers ample storage space, ensuring a practical and efficient layout for business operations.
Above the retail unit lies a self-contained two-bedroom apartment, comprising of a spacious lounge, kitchen, two bedrooms and a family bathroom.

ACCOMMODATION
Ground Floor Retail- 68.58 sq.m (738 sq.ft)
Residential Accommodation- 46 sq.m (495 sq.ft)

TENURE
11 Sea Road- £575 PCM (£6,900 PA)
11a Sea Road- £425 PCM (£5,100 PA)

EPC RATING
11 Sea Road- C51
11a Sea Road- D64

TERM
Available by way Freehold Title at a Guide Price of £159,950 (One Hundred Fifty-Nine Thousand Nine Hundred Fifty Pounds). This equates to a net initial yield of 7.36%

RATING ASSESSMENT
The rateable value of the premises as at 1 April 2023 is £9,100 and the estimated rates payable for the current year is £4,540. This is based on the standard Small Business Rate of 49.9p in the pound, however, interested parties should confirm the current position with the Local Authority.

VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

LEGAL COSTS
Each party is responsible for their own legal costs.

ANTI-MONEY LAUNDERING REGULATION
In accordance with Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.