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For Sale
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RETAIL INVESTMENT, Ryhope Road, Sunderland SR2 9TS

13,746 Sq Ft
£1,500,000
  • Ref: CPNE_102677
  • Type: Retail
  • Availability: For Sale
  • Make Enquiry

Property Features

  • Retail Investment For Sale
  • Best bids by noon 27th April 2023
  • Let to Create City Limited
  • t/a Franks Factory Flooring
  • 10 year lease from June 2017

Property Summary

The property is situated on Ryhope Road close to the junction of Toll Bar Road approximately 3 miles south-east of Sunderland city centre. Situated opposite the Harvester pub and adjacent to McDonald's drive-through restaurant and Lidl food store. The location is an establishe...

Full Details

The property is situated on Ryhope Road close to the junction of Toll Bar Road approximately 3 miles south-east of Sunderland city centre. Situated opposite the Harvester pub and adjacent to McDonald's drive-through restaurant and Lidl food store. The location is an established retail, leisure and trade location including additional representation over the road from B&M, One Gym, Tool Station, MKM, Burger King, Starbucks and KFC.

INVESTMENT SUMARY

• Let to Create City Limited t/a Franks Factory Flooring
• 10 years from 20 June 2017, expiring 19 June 2027
• Tenant Break – 5th anniversary with 6 months’ notice not
triggered
• Rent £113,405 pax subject outstanding review 2022 (Not
triggered)
• FRI lease (Photographic Schedule of Condition)
• Long Leasehold interest in the prop
• Offers in the region of £1,500,000 exclusive subject to
contract are sought. £109 psf)
• A purchase at this level will reflect a net initial yield of
7.56% allowing for purchaser’s costs at 5.77%. Potential
reversion on settling outstanding rent review.

The property comprises a single-storey retail unit of steel portal and masonry construction. The unit shares the parking with Lidl adjacent.

ACCOMMODATION
The unit provides approximately 1,277 sq m (13,746 sq ft) gross internal area.

Car Park - use of all car parking spaces with Lidl. Lidl maintain the car parking and the tenant reimburses 50% of the cost.

TENURE
Long Leasehold of 99 years from 21 June 2001 at a peppercorn. Head Landlord - Sun Life Assurance Company of Canada (U.K.) Limited.

PRICE
Offers in the region of £1,500,000 exclusive subject to contract are sought. £109 psf). A purchase at this level will reflect a net initial yield of 7.56% allowing for purchaser’s costs at 5.77%. Potential reversion on settling outstanding rent review at higher.

Closing date for “Best Bids” on Wednesday 27 April 2023 at 12 noon.



Accommodation:
Retail Unit: 13,746.00 sqft