Map6 bedroom property for sale
Key information
Features and description
- Tenure: Freehold
- Prominent Corner Position
- Investment Opportunity
- Four ground floor retail units
- 6 bedroom HMO
- Fully Tenanted
- Generating an gross income of £56,000 pa
- Potential to Increase Income
We are pleased to offer to auction this mixed use investment opportunity that is situated on a corner terrace parade between Olive Street and Stockton Road. Arranged as FOUR ground floor retail units with a 6-bedroom HMO above.
All retail units and flats are fully let generating an income of £56,000 with the potential to increase this further.
This property is a listing building
Rooms
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.
Accommodation
Four ground floor retail units with a 6-bedroom HMO above.
Tenure
Freehold. Title number TY385437.
Rateable Value
14 - The current rateable value is £4,900 (1 April 2023 to present).
16/18 - The current rateable value is £5,600 (1 April 2023 to present).
EPC
29 Olive -
14-18 Stockton -
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
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