Commercial Property
A substantial three storey, mid Victorian terraced property situated within Sunderland city centre currently operating as a bar producing £48,000 per annum. The property benefits from a two-storey extension which has more or less doubled the size of the original building.
To the ground floor, the accommodation comprises an entrance hallway with wood strip flooring and staircase leading to the first floor. Double hardwood doors then take through to the main bar/lounge and restaurant trading area, which is attractively presented throughout with feature, bare brick walls. To the rear of the property, you’ll find another lobby area with disability compliant customer W/C and a fire exit. To the first floor, you’ll find another seating area with cocktail bar area. There is a bottle store at the rear, an external patio area and a commercial catering kitchen. Customer W/Cs can also be found on the first floor. The second floor comprises offices, storage space, staff rooms and a W/C.
The property is located within the West Sunniside area of Sunderland city centre which lies to the east of the main retail area of the city. The surrounding area is characterised by a variety of commercial properties including offices, bars, restaurants and cafes with upper floor residential apartments. The property is let and produces an income of £48,000 per annum.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
Auction Deposit and Fees
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1074 inc. VAT
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
