Property description

Jonathon Lewis are delighted to offer for sale this excellent investment property situated on The Green, Southwick, Sunderland. The said property is let to Barclays Bank Plc and is located in a busy shopping area with plenty of captive trade. EXCELLENT INVESTMENT OPPORTUNITY!

LOCATION
Located on The Green, in the heart of the densely populated area of Southwick, Sunderland. The Green is a bustling shopping parade located to the North of Sunderland approximately 2 miles from the City centre, where you can find a variety of local and national operators such as Greggs, Iceland, Lloyds Bank, Ramsdens, B & M\‘s and Heron Foods The property occupies a good trading position with excellent passing trade.

DESCRIPTION
The property is a detached, purpose built Bank building set out over two floors with ancillary areas and a large car park to the rear for customers and staff.

ACCOMMODATION
Comprises of a two storey detached, brick built Bank building with tiled roof and car park to the rear

GROUND FLOOR: Total Floor area approx. 231 m2 (2486 ft2).
Bank Trading Floor And Four Offices. Rear Storage Rooms.

FIRST FLOOR: Total Floor area approx. 92 m2 (990 ft2).
Kitchen & Staff Room. Store Room. Male & Female W.C\‘s TOTAL INTERNAL AREA: Approx 323 m2 (3476 ft2)

TENURE
We have been advised by our clients that the property is held Freehold.

TENANCY
The premises are currently rented out by way of a Fully Repairing and Insuring lease for a term of 20 years from 11th April 2008 at a passing rent of £22,225 per annum, with a provision for rent review every 5 years.

ASKING PRICE
Offers sought in the region of £350,000 ( Three Hundred And Fifty Thousand Pounds ) plus any associated fees.

VAT
All the figures quoted exclude VAT where chargeable.

RATES PAYABLE
We have been verbally informed that the premises are assessed as follows: Rateable Value: £16,750 Rates Payable: £8,107 Interested parties should contact the Local Rating Authority to determine the precise rates payable. Incentives may apply.

LEGAL COSTS
Each party is to be responsible for their own legal costs incurred in the transaction.

ENERGY PERFORMANCE
EPC Rating: The Rating Is C The certificate is available upon request.

DISCLAIMER
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Lessee or Buyer to ensure that they are in working order. Any areas, measurements and distances given are approximate only.

Property Features :

• Detached Freehold Bank Investmant
• Prime Trading Location
• Passing Rent: £22,225 Per Annum
• Gross Yield Circa 6.35%
• Excellent Investment Opportunity