Kingsway House Riverbank Road Sunderland Tyne and Wear SR5 3JJ

Kingsway House
Riverbank Road
Sunderland
Tyne and Wear
SR5 3JJ

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
Auction Venue
Live Streamed Auction

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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

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

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.