9 The Green Southwick Sunderland Tyne & Wear SR5 2HT

  • 9 The Green<br>Southwick<br>Sunderland<br>Tyne & Wear<br>SR5 2HT

9 The Green
Southwick
Sunderland
Tyne & Wear
SR5 2HT

Freehold Bank Investment

  • Let to Barclays Bank Plc
  • Lease expires in April 2028 (subject to option)
  • Approximately 3,785 sq ft
  • Large site with parking to rear
  • Prominent town centre location close to Greggs, Iceland, B&M and Heron Foods
  • VAT-free bank investment
  • Lot
    82
  • Auction
    19th October 2017
  • Rent
    £22,225 per Annum Exclusive
  • Status
    Sold
  • Price
    £306,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Bank Investment

  • Let to Barclays Bank Plc
  • Lease expires in April 2028 (subject to option)
  • Approximately 3,785 sq ft
  • Large site with parking to rear
  • Prominent town centre location close to Greggs, Iceland, B&M and Heron Foods
  • VAT-free bank investment
  • Lot 82
  • Auction 19th October 2017
  • Rent £22,225 per Annum Exclusive
  • Status Sold
  • Price £306,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
12 miles south-east of Newcastle upon Tyne
Roads
A1(M), A690, A1018, A1231
Rail
St Peters Railway Station
Air
Newcastle International Airport
Situation

The property occupies a prominent position fronting The Green, at its junction with South Terrace in Southwick town centre, which lies approximately 2 miles north-west of Sunderland City Centre. Nearby occupiers include Greggs, Iceland, B&M, Heron Frozen Foods, Card Factory, Coral and a number of independent retailers.

Tenure

Freehold.

Location
Miles
12 miles south-east of Newcastle upon Tyne
Roads
A1(M), A690, A1018, A1231
Rail
St Peters Railway Station
Air
Newcastle International Airport
Situation

The property occupies a prominent position fronting The Green, at its junction with South Terrace in Southwick town centre, which lies approximately 2 miles north-west of Sunderland City Centre. Nearby occupiers include Greggs, Iceland, B&M, Heron Frozen Foods, Card Factory, Coral and a number of independent retailers.

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with ancillary accommodation on the first floor. The property benefits from a large site with 9 car parking spaces to the rear.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor banking hall with ancillary accommodation on the first floor. The property benefits from a large site with 9 car parking spaces to the rear.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a. Review
Ground

First		 Banking Hall/
Ancillary
Ancillary
313.53 sq m

38.08 sq m
(3,375 sq ft)

(410 sq ft)
 BARCLAYS BANK
PLC (1)		 20 years from
11/04/2008 until
10/04/2028 (2) on a full
repairing and insuring
lease (3)		 £22,225 11/04/2022
Total
351.61 sq m
(3,785 sq ft)
     £22,225  

1) For the year ending 31st December 2016, Barclays Bank Plc reported a turnover of £4,383,000,000 and a total net worth of £60,085,000,000 (Source: Experian Group 13/09/2017).
(2) The lease is subject to a tenant option to determine on 11th April 2023.
(3) The lease is full repairing and insuring, subject to a Schedule of Condition.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate Auctioneers
Michael Hodgson Chartered Surveyors and Estate Agents 4 Athenaeum Street
Sunderland
SR1 1QX
Michael Hodgson 0191 565 7000michael@michaelhodgson.co.uk
Seller's Solicitors
Ward Hadaway Solicitors Sandgate House, 102 Quayside
Newcastle-upon-Tyne
NE1 3DX
Simon Errington 0191 204 4112simon.errington@wardhadaway.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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