Office for sale

*For sale via secure sale online bidding: terms and conditions apply.*

LOCATION
The subject street is just east of Sunderland train station whilst the Bridges shopping centre and the main retail core are also west of the subject. University of Sunderland city campus is also just west of the subject, with Mowbray Park to the south. Sunniside was traditionally the professional district of Sunderland. Since significant redevelopment has commenced, there has been a shift of occupiers moving to Grade A offices at Keel Square meaning demand has reduced within this location.

DESCRIPTION
*For sale via secure sale online bidding: terms and conditions apply.*

The property comprises of two component parts being a single storey unit utilised as the customer facing estate agency branch. The second component comprises of an interconnecting two storey end terraced premises with accommodation over GF, FF and T fall attic accommodation.
LEASE DETAILS
Property Lease term Rent Per Annum
4a Athanaeum Street 10 Years £17,500
48 John Street Vacant N/A

ACCOMMODATION
NIA: 367.56 m2 (3,955ft2).

EPC
To be confirmed

RATING ASSESSMENT
The rateable value of 4a Athenaeum Street as at 1 April 2023 is £6,700 and 48-48a John Street is £9,100. 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.

TERMS
The Freehold interest is available with a guide price of £250,000 (Two Hundred and Fifty Thousand Pounds).

PLANNING
The office accommodation was granted planning for 'conversion of offices at first and second floors to form 2no. apartments' on 12/12/2023, offering an excellent city centre development into residential use. Planning Ref num: 23/00495/FUL

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.

ANTI-MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations we are required to verify the identify of the Purchaser/Tenant. We will do so based on name and address data provided but we may also require you to provide two forms of identification. We will require the Purchaser/Tenant to provide proof of the source of income.

VIEWING
For general enquiries and viewing arrangements please contact the Sunderland Office [use Contact Agent Button] or[use Contact Agent Button]

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 enquiry, bid or viewing of the subject property will require your details being 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 under 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 of 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 property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. 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 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.