High Yielding Retail Investment – on behalf of Fixed Charge Receivers

For Sale

Private Treaty

Unit B | 11 Station Road

| Sunderland

| SR6 9AA

196,000

Offers in the region of

Summary

For sale on behalf of Fixed Charge Receivers
Freehold retail/restaurant investment
Attractive unexpired lease term
Passing rent £20,000 per annum
Offers in the region of £196,000, subject to contract
Net Initial Yield 10%

Location

Sunderland is a port city in Tyne and Wear. The city is 10 miles (16 km) from Newcastle-upon-Tyne and is on the River Wear’s mouth to the North Sea.

Sunderland station has five direct trains to London King’s Cross on weekdays (five on Saturday / four on Sunday), taking about 3 hours 30 minutes.

Newcastle is a 30-minute Tyne & Wear Metro ride (see above) from Sunderland city centre and has connecting services to London every half hour that take approximately 2 hours 45 minutes.

The city’s main road is the A19, which is a dual carriageway running north to south-west of the city, crossing the River Wear at Hylton. The A1231 leaves the city and takes 20 minutes to reach the motorised A1 linking to the national motorway system.

Newcastle Airport is a 55-minute Metro ride from Sunderland city centre; there is a Metro train connecting with the airport every 12–15 minutes in both directions until 11pm. Also, Teesside International Airport can be reached in less than one hour by car.

Situation

The property occupies a prominent position on Station Road in Fulwell, a well-established suburb of Sunderland, approximately 5km (3.1 miles) north of Sunderland city centre.

Station Road intersects with Sea Road together forming the main local retail provision in this densely populated residential area. Nearby occupiers include Vets4Pets (adjacent), Greggs, Tesco Express, Morrisons, Hayes Travel and Heron Foods.

Seaburn Staton is some 100 metres from the subject property connecting residents and visitors with Sunderland Station in the city centre in only seven minutes.

The Bridges Shopping Centre in Sunderland city centre is some 4 km (2.5 miles) from the property, home to approximately 90 high street and independent retailers including Primark, Iceland, Holland & Barrett, Card Factory, Superdrug, Greggs, TK Maxx, H&M, Next, Schuh, The Works, JD Sports, Boots and River Island among others.

The popular tourist destination of Roker Beach is approximately 1.6km (1 mile) from the subject property.

Description

The property comprises a single-storey retail/restaurant unit forming part of a larger building. The premises occupy a prominent roadside position offering excellent visibility.

The frontage features full-height display windows with modern signage above, providing good natural light to the interior.

Internally, the restaurant is arranged to provide a large dining area to the front with kitchen, preparation area and WC to the rear of the property

Externally, the property benefits from shared forecourt parking directly to the front.

Accommodation

The property has been measured by BKR Floorplans and provides the following accommodation:

Ground Floor net Internal area

1,667 sq ft

154.86 sq m

A set of floor plans is available to download, and the measured survey report will be re-addressed to a purchaser at a cost of £440 + VAT.

EPC

The property has an EPC rating of C, valid until 11 August 2032.

Rateable Value

According to the valuation office website, the rateable value for the property is £20,000.

The business rates multiplier is 49.9 pence.

Tenure

Freehold.

Tenancy

The property is let to Syed Amir Ali, trading as Alishaan By The Sea, on a full repairing and insuring lease for a term of 20 years from 10^th September 2013, expiring on 9^th September 2033 (approximately 8 years unexpired).

The current passing rent is £20,000 per annum. The lease benefits from an upwards only open market rent review on 10^th September 2028.

Covenant

Alishaan By The Sea is a family-owned Indian restaurant in Sunderland. The restaurant is highly rated previously having won a Trip Advisors Travellers Choice Award in 2024, it also has 1300+ five star reviews on Just Eat. For further information see alishaan-bythesea.co.uk.

VAT

This property has been registered for VAT. It is anticipated that the sale will be treated as a transfer of a Going Concern (TOGC).

Proposal

We are instructed to seek offers in the region of £196,000 (One Hundred and Ninety Six Thousand Pounds), subject to contract

A purchase at the asking price reflects an attractive net initial yield of 10% (allowing for purchaser’s costs at 2.82%).

Please note that a purchaser will be re-charged the costs of the measured survey (£440 +VAT) and searches (£1,251.50 inc VAT) which are provided in the data room.

Investment Considerations

Opportunity to acquire a freehold retail/restaurant investment;
Let to an established tenant;
Attractive unexpired lease term;
Situated in an affluent suburb of Sunderland;
A purchase at the asking price represents an attractive net initial yield;
Attractive lot size for investors.

Disclaimer

Fixed Charge Receivers Andrew Pear and Milan Vuceljic by the powers given by the Mortgage and all other powers given by statute or otherwise who act as agents for the Company and without personal liability. Both Fixed Charge Receivers are licenced by the Insolvency Practitioners Association and are bound by the Insolvency Code of Ethics.

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Contact Lead Agent

Neil Singer

+44 (0) 207 935 7200

neil@singervielle.co.uk

Dale Henry

+44 (0) 203 701 1356

dale@singervielle.co.uk

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Property address: Unit B | 11 Station Road , Sunderland, United Kingdom

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A unique transactional platform where purchasers, owners and agents conclude the property sale process online. It provides the facility for a legally binding exchange of digitally signed contracts to be conducted.

*note: variations may occur depending upon territory.

clicktopurchase® uses hash and encryption technology as part of the creation of the transactional audit trail; this is then recorded in the clicktopurchase® Blockchain.

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Our unique and modern approach, available to all members of our network, delivers significant and proven advantages over the traditional methods.

*note: variations may occur depending upon territory.

clicktopurchase® uses hash and encryption technology as part of the creation of the transactional audit trail; this is then recorded in the clicktopurchase® Blockchain.

Partners within the SV International Network

Our unique and modern approach, available to all members of our network, delivers significant and proven advantages over the traditional methods.

A unique transactional concept where purchasers, owners and agents conclude the property sale process online. It provides the facility for a legally binding exchange of digitally signed contracts to be conducted.

*note: variations may occur depending upon territory.