Lot 24 15-17 Borough Road and Norfolk Street, Sunderland, SR1 1EQ

Property Enquiries

Mat Harris

mat.harris@bidx1.com
+44 (0) 7732 681 152

Viewing/ Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Chris Grey

chris.grey@penningtons.co.uk
+44 (0) 20 7457 3000
Description
Map
Viewings

Property Summary
  • Freehold ground rent
  • x3 shops and x5 flats (sold off on long leases)
  • Currently producing £1,200 per annum
Tenure

Freehold

Location

Sunderland is a port city in Tyne and Wear, situated 12 miles north-east of Durham and 10 miles south-east of Newcastle upon Tyne, at the mouth of the River Wear. Sunniside is a district towards the eastern side of the city centre, bounded to the west by Fawcett Street, to the south by Borough Road, and to the north and east by the Inner Ring road. A significant programme of urban development has established Sunniside as a centre of culture, film, dining, entertainment and art in the city. It is also known as the historic heart of Sunderland's legal and real estate sectors, with many solicitors and estate agencies based in the area. The property is located on the north side of Borough Road on its junction with Norfolk Street in a mixed use area. within a short walk east of the city centre. Other nearby occupiers include Lloyds Pharmacy and McCarthys Pharmacy as well 

Description

An attractive three storey property of traditional construction, consisting of three ground floor retail units and five flats above accessed via a separate entrance in Norfolk Street. The retail and residential have all been sold off on long leasehold interests (please see table and legal pack), and the freeholder manages and insures the property.

Tenancy

Please refer to legal documents

Planning

Sunderland City Council (0191 520 5506) www.sunderland.gov.uk

VAT
Please refer to Legal Documents
Property Table
AddressAccommodationTenancyRent per annum
TOTAL  £1,200
15 Borough RoadRetail999 years from 19/08/2020Peppercorn
16A Borough RoadRetail999 years from [ ] 2020Peppercorn
17A Borough RoadRetail - ground floor250 years from 18.01.2008£200
16b/16c/17b/17c Borough Road and
35b/35c/36a/36b/36c Norfolk Street
Ground floor stairs, first and second floor flats250 years from 14.06.2016£1,000

Please note that any plans or photographs used are to help locate the property and may not show the exact legal boundaries. Prospective purchasers are advised to refer to the title plan in the legal pack. The areas have been provided by the vendor. 

 


*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,250 (inclusive of VAT) charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,750 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.


Contact Mat about this property