Freehold Office Opportunity neighbouring a Major Development Site
Substantial Two Storey Office Building
Approximate Floor Area 857.00 sq m (9,223 sq ft)
Site Area of 0.4 Ha (1 Acre) with a low site cover of 11%
Adjacent to a Major 118 home Residential Development
Jan 2022 break option not exercised
Nearby occupiers include Sainsbury's, Lidl, Sunderland PDSA Hospital, KJ Tyres and a Volvo dealership
Lot 20
Auction 30th March 2023
Rent £90,000 per Annum Exclusive
Status Sold Post
Price
Sector Office
Auction Venue Live Streamed Auction
Property Information
Location
Miles
13 miles north-east of Durham 14 miles south-east of Newcastle
Roads
A1231, A19, A690, A1018, A1(M)
Rail
Sunderland Railway Station
Air
Newcastle International Airport
Situation
The property is located in an established light industrial area surrounded by low density residential homes just 1.5 miles north west of Sunderland City Centre. The property is prominently situated on Riverbank Road, immediately adjacent to a major residential development of 118 2, 3, 4 and 5 bedroom homes from housebuilder Avant Homes. Nearby occupiers include Sainsbury's, Lidl, Sunderland PDSA Hospital, KJ Tyres and a Volvo dealership.
Tenure
Freehold.
Location
Miles
13 miles north-east of Durham 14 miles south-east of Newcastle
Roads
A1231, A19, A690, A1018, A1(M)
Rail
Sunderland Railway Station
Air
Newcastle International Airport
Situation
The property is located in an established light industrial area surrounded by low density residential homes just 1.5 miles north west of Sunderland City Centre. The property is prominently situated on Riverbank Road, immediately adjacent to a major residential development of 118 2, 3, 4 and 5 bedroom homes from housebuilder Avant Homes. Nearby occupiers include Sainsbury's, Lidl, Sunderland PDSA Hospital, KJ Tyres and a Volvo dealership.
Tenure
Freehold.
Description
The property comprises a two storey office building in a L-shape configuration. The property benefits from a site area of approximately 0.40 Ha (1 Acre) allowing for approximately 60 car parking spaces and providing a low site cover of 11%.
VAT
VAT is 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 two storey office building in a L-shape configuration. The property benefits from a site area of approximately 0.40 Ha (1 Acre) allowing for approximately 60 car parking spaces and providing a low site cover of 11%.
VAT
VAT is 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 sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground First
Office Office
422.70 434.30
(4,549) (4,674)
KINGSWAY CLAIMS LIMITED(1)
10 years from 01/07/2015
£90,000
Total Approximate Floor Area
857.00
(9,223) (2)
£90,000
(1) Kingsway Insurance is a family run insurance services business established in 1959 and offer bespoke commercial and personal insurance services (www.kingswayinsurance.co.uk). (2) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
