Description
TENANTED MIX USED COMMERCIAL PROPERTY**** Compromises Ground floor commercial with 2 flats above. Total rent £31,500 per annum. 189.75 sq m (2,042 sq ft) Situated close to Sunderland Rail Station
58 -60 St. Lukes Terrace (Ground Floor) Let to DP Realty Ltd (t/a Domino's) on a FRI Lease For a term of 20 years from 26.10.2020 Rent review every 5th year Rent: £21,000 p.a.
58a St. Lukes Terrace First Floor flat Rolling Tenancy producing £5,100 p.a. 60a St. Lukes Terrace First Floor flat Rolling Tenancy producing £5,400 p.a.
PRIME INVESTMENT PROPERTY in excellent trading position **PERFECT ADDITION TO ANY PORTFOLIO** SUPER TRADING POSITION *** Rental £31,500 PER ANNUM
Nearby occupiers include Domino's Pizza, Heron Foods, Greggs, Subway, Papa Johns, William Hill and a number of independent takeaway operators.
TENANTED MIX USED COMMERCIAL PROPERTY**** Compromises Ground floor commercial with 2 flats above. Total rent £31,500 per annum. 189.75 sq m (2,042 sq ft) Situated close to Sunderland Rail Station 58 -60 St. Lukes Terrace (Ground Floor) Let to DP Realty Ltd (t/a Domino's) on a FRI Lease For a term of 20 years from 26.10.2020 Rent review every 5th year Rent: £21,000 p.a. 58a St. Lukes Terrace First Floor flat Rolling Tenancy producing £5,100 p.a. 60a St. Lukes Terrace First Floor flat Rolling Tenancy producing £5,400 p.a. PRIME INVESTMENT PROPERTY in excellent trading position **PERFECT ADDITION TO ANY PORTFOLIO** SUPER TRADING POSITION *** Rental £31500 PER ANNUM Nearby occupiers include Domino's Pizza, Heron Foods, Greggs, Subway, Papa Johns, William Hill and a number of independent takeaway operators.
Tenancy Details
Type of Agreement: Full Repairing & Insuring (FRI)Length: 20 Years
Rent: £31,500 per year / £2,625 per month
Yield: 8% (approx)
Tenant: Company
Notes: 58 -60 St. Lukes Terrace (Ground Floor) Let to DP Realty Ltd (t/a Domino's) on a FRI Lease For a term of 20 years from 26.10.2020 Rent review every 5th year Rent: £21,000 p.a. 58a St. Lukes Terrace First Floor flat Rolling Tenancy producing £5,100 p.a. 60a St. Lukes Terrace First Floor flat Rolling Tenancy producing £5,400 p.a.
Maps & Location
Map Street View SatelliteThe property ooccupies a position within the established suburban shopping parade of Pallion, approximately three miles west of Sunderland city centre. St. Lukes Terrace is the principal local shopping destination serving a densely populated residential catchment, comprising a variety of national retailers, independent businesses, convenience stores, food outlets and service providers. This established mix of businesses helps create a recognised local commercial centre, attracting regular custom from surrounding residential neighbourhoods and providing a convenient shopping destination for local residents.
Document Downloads
Pricing Information & Bidding
Opening Bid: £405,000
What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price). How to Bid... To take part in the online auction you must firstly create a bidding account. Once you have a bidding account you can then login and place bids during the auction. Please click on the following link to view the latest Online Auction Bidders Guide now.View Live Online Auction
Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.
Submit Offer Now
Terms & Conditions of Sale
- 10% Deposit (Minimum £3,000)
- Standard Completion (Unless specified differently in any Special Conditions of Sale)
- Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)
Use our DEPOSIT CALCULATOR to confirm the reservation deposit & buyers fee for this property at a specified bid level.
Calculate Deposit & Fee
STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request an earlier or later completion date which will be detailed in any Special Conditions of Sale for this lot. Buyers must satisfy themselves prior to bidding as to the terms on offer for each property which may differ in deposit amount, completion and buyers fee.
* If no Special Conditions of Sale are present in the legal docs download bidders are advised to request a copy by email prior to bidding.
General Terms & Conditions of Sale
Lot Specific Terms - 58-60 St. Lukes Terrace, Sunderland, Tyne & Wear