Offers in region of
£1,125,000
(£35.37/sq. ft)
Property for saleInvestment Opportunity For Sale In Sunderland, Tecaz House, Ryhope Street South, Sunderland SR2
31,804 sq. ft
Freehold
About this property
Freehold Investment Opportunity
Asking Price: £1,125,000
Single let to OneGym on a 15 year term from November 2022
Passing Rent of £95,000 pa
All prices are deemed exclusive of VAT
Description
The subject property comprises a two storey, steel framed building with brick infill walls and was constructed approximately 45 years ago in 1978. The property also has a flat metal deck roof with fibreboard insulation, the roof is felt covered and sits behind a brick parapet. OneGym have done a full and thorough fitout of the entire internal area of the property. The site is regularly shaped with a slight easterly fall as well as there being a plentiful car park to the east elevation. The land surrounding the building is generally tarmacked surfaced and is used for car parking and external storage.
Location
The property is situated on Ryhope Street South in the Ryhope area of Sunderland and lies 3 miles south of the City Centre. The immediate vicinity is largely residential, being a mix of low value private and local authority housing. The subject property benefits from excellent local amenities including Asda and Iceland to the immediate east of the premises. Ryhope is easily accessed from Sunderland City Centre and is also well located in close proximity to both the A19 and A1(M).
Terms
Asking price of £1,125,000 (One Million One Hundred and Twenty Five Thousand Pounds) which represents a net effective yield of 7.98% taking into account reasonable purchasers’ costs at 5.87%.
The subject property comprises a two storey, steel framed building with brick infill walls and was constructed approximately 45 years ago in 1978. The property also has a flat metal deck roof with fibreboard insulation, the roof is felt covered and sits behind a brick parapet. OneGym have done a full and thorough fitout of the entire internal area of the property. The site is regularly shaped with a slight easterly fall as well as there being a plentiful car park to the east elevation. The land surrounding the building is generally tarmacked surfaced and is used for car parking and external storage.
Location
The property is situated on Ryhope Street South in the Ryhope area of Sunderland and lies 3 miles south of the City Centre. The immediate vicinity is largely residential, being a mix of low value private and local authority housing. The subject property benefits from excellent local amenities including Asda and Iceland to the immediate east of the premises. Ryhope is easily accessed from Sunderland City Centre and is also well located in close proximity to both the A19 and A1(M).
Terms
Asking price of £1,125,000 (One Million One Hundred and Twenty Five Thousand Pounds) which represents a net effective yield of 7.98% taking into account reasonable purchasers’ costs at 5.87%.
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