29/29a/29b Crowtree Road & 8/12 Maritime Terrace Sunderland SR1 3JU

29/29a/29b Crowtree Road & 8/12 Maritime Terrace
Sunderland
SR1 3JU

  • 29/29a/29b Crowtree Road & 8/12 Maritime Terrace<br>Sunderland<br>SR1 3JU

High Yielding Freehold Retail Parade Investment

  • Unbroken parade comprising seven shops
  • Approximately 19,953 sq ft
  • Tenants include Diechmann Shoes, a Nail Bar and a Phone Shop
  • Prominent corner location at entrance to Bridges Shopping Centre and close to Sunderland Train Station (200 metres)
  • Nearby occupiers include TK Maxx, H&M, Home Bargains, Starbucks and Primark
  • Asset management potential
  • Possible change of use opportunities of upper parts (subject to leases & consents)
  • Lot
    6
  • Auction
    18/May/2022
  • Rent
    £149,600 per Annum Exclusive
    (1)
  • Status
    Available
  • Price*
    £700,000 - £750,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
13 miles south-east of Newcastle upon Tyne, 13 miles south-west of Durham
Roads
A1 (M), A19, A1018, A1231
Rail
Sunderland Railway Station
Air
Newcastle Airport
Situation

The property is situated in a very prominent pedestrianised City Centre location at the junction of Crowtree Road and Maritime Terrace leading to the main entrance of Bridges Shopping Centre. Sunderland Train Station is approximately 200 metres away. Other nearby retailers include TK Maxx, H&M, Home Bargains, Starbucks and Primark.

Tenure

Freehold.

Location
Miles
13 miles south-east of Newcastle upon Tyne, 13 miles south-west of Durham
Roads
A1 (M), A19, A1018, A1231
Rail
Sunderland Railway Station
Air
Newcastle Airport
Situation

The property is situated in a very prominent pedestrianised City Centre location at the junction of Crowtree Road and Maritime Terrace leading to the main entrance of Bridges Shopping Centre. Sunderland Train Station is approximately 200 metres away. Other nearby retailers include TK Maxx, H&M, Home Bargains, Starbucks and Primark.

Tenure

Freehold.

Description

The property comprises an unbroken parade of seven shops each arranged on the ground and first floors.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion.

EPC

See legal pack.

Description

The property comprises an unbroken parade of seven shops each arranged on the ground and first floors.

VAT

VAT is applicable to this lot.

Completion Period

6 week completion.

EPC

See legal pack.

Tenancy & Accommodation

Address Floor Use Floor Areas Approx
(sq m)
Floor Areas Approx
(sq ft)
Tenant Term Rent p.a.x.
29 Crowtree Road Ground
First
Retail/Ancillary
Ancillary
195.00 sq m
177.40 sq m
(2,099 sq ft)
(1,910 sq ft)
DEICHMANN-SHOES UK LIMITED
(t/a Diechmann)
10 years from 25/03/2015 to 24/03/2025
£52,600
29a Crowtree Road Ground
First
Retail/Ancillary
Ancillary
84.40 sq m
86.10 sq m
(908 sq ft)
(927 sq ft)
FONE XPERTS SUNDERLAND LTD (1)
(t/a Fone Xperts)
10 years from 09/02/2022 with a rent review on 09/02/2027 and a tenant only break option in 2025 and 2027 (1)
£25,000
29b Crowtree Road Ground
First
Retail/Ancillary
Ancillary
83.80 sq m
76.60 sq m
(902 sq ft)
(825 sq ft)
SILVERVALE ENTERPRISES LIMITED
(t/a Fatso''s)
3 years from 25/03/2019 (holding over)
£33,000
8 Maritime Terrace Ground
First
Retail/Ancillary
Ancillary
340.80 sq m
354.08 sq m
(3,668 sq ft)
(3,811 sq ft)
SUNDERLAND FURNITURE CLEARANCE CENTRE LIMITED
(t/a Durham Bed & Furniture Clearance Centre)
1 year licence from 01/10/2021
-
9 Maritime Terrace Ground
First
Retail/Ancillary
Ancillary
78.90 sq m
57.04 sq m
(849 sq ft)
(614 sq ft)
SUNDERLAND FURNITURE CLEARANCE CENTRE LIMITED
(t/a Durham Bed & Furniture Clearance Centre)
1 year licence from 01/10/2021
-
10/11 Maritime Terrace Ground
First
Retail/Ancillary
Ancillary
50.20 sq m
50.90 sq m
(540 sq ft)
(548 sq ft)
VACANT -
-
12 Maritime Terrace Ground
First
Retail/Ancillary
Ancillary
114.90 sq m
103.60 sq m
(1,237 sq ft)
(1,115 sq ft)
HUNG DUC VU
(t/a HT Nails & Spa)
10 years from 16/05/2019 with a rent review and tenant only break option on 16/05/2024
£39,000
Total    
1,853.72 sq m
(19,953 sq ft)
   
£149,600 (1)

(1) The tenant benefits from a three month rent free period from term commencement until 9th May 2022, with 6 months half rent thereafter. The seller has agreed to top up the concessionary rent period from the completion of the sale until the expiring of the concessionary rent period.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    10.05.22
    File Size
    178 MB
    Login to View
  • Brochure
    Updated Date
    03.05.22
    File Size
    4 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Edward MartinEdward Martin +44 (0)20 7034 4854 +44 (0)7478 673 535edward.martin@acuitus.co.uk
Seller's Solicitors
BSG Solicitors 314 Regents Park Road, Finchley
London
N3 2JX
Jeremy Swerner +44 (0)20 8343 4411jeremy@bsgsolicitors.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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