Offers in region of
£125,000
(£127.29/sq. ft)
Retail premises for saleOlive Street, Sunderland SR1
982 sq. ft
About this property
Location
The subject property is located on
Olive Street which is situated on the Western fringe of the City Centre linking Park Lane with Stockton Road.
Nearby occupiers mainly consist of local independent retailers together with a number of bars and restaurants. University of Sunderland's City Campus and The Park Lane Transport Interchange are also within very close proximity offering local facilities and amenities.
The exact location is shown on the attached plans.
Description
The property offers a three-storey mid terrace shop with rear yard / parking.
Constructed of brickwork walls with slate roof over, the property provides a self-contained retail unit on the ground floor with stores / offices on the first and second floors.
The ground floor offers joint entrance with retail sales and rear preparation area and WC facilities. The main stairs leads to first floor providing a large store room and separate office. The additional stairs leads to the second floor with storage rooms.
Currently occupied by two separate tenants the property could be converted, subject to planning permission.
To the rear is a secure yard with garage door leading to rear lane.
Accommodation
From onsite measurements, the following Net Internal Areas have been provided:
Ground Floor Retail / Stores
33.60 m2
(362 sq ft)
First Floor Stores / Office
36.40 m2
(392 sq ft)
Second Floor Store
21.20 m2
(228 sq ft)
total NIA : 91.20 M2
(982 sq ft)
Services
The premises benefit from all mains services.
(It is recommended that all interested parties contact the local service providers to ensure that the services are installed and operational.)
Business rates
We understand from the Local Rating Authority that the premises have the following rv assessments:
Ground & First floor
rv: £5,500
Second floor
rv: £1,000
(All parties should make their own investigations.)
Tenancies
Ground and First Floor is let to Private Individual (T/A Delights) on an Internal Repairing lease terminating on 2.8.2027 at the passing rent of £8,500 pa exc, subject to a tenant only rolling 3 month break clause.
Second floor storage room is let to Private Individual on an Internal Repairing lease terminating on 3.8.2026 at a passing rent of £360 pa exc.
Tenure
Freehold (TY260896).
Price
Our client is seeking freehold offers in the region of £125,000, Subject to Contract, with the benefit of the current tenants.
Energy performance certificate
D 92
(Full details upon request upon request.)
VAT
VAT will not be chargeable on the sale of the property.
Legal costs
The ingoing purchaser will be responsible for the Vendors reasonable legal costs in connection with this transaction.
Viewing
By prior appointment with Frew Pain & Partners, contact:
James E F Pain
Tel: Email:
June 2025
The subject property is located on
Olive Street which is situated on the Western fringe of the City Centre linking Park Lane with Stockton Road.
Nearby occupiers mainly consist of local independent retailers together with a number of bars and restaurants. University of Sunderland's City Campus and The Park Lane Transport Interchange are also within very close proximity offering local facilities and amenities.
The exact location is shown on the attached plans.
Description
The property offers a three-storey mid terrace shop with rear yard / parking.
Constructed of brickwork walls with slate roof over, the property provides a self-contained retail unit on the ground floor with stores / offices on the first and second floors.
The ground floor offers joint entrance with retail sales and rear preparation area and WC facilities. The main stairs leads to first floor providing a large store room and separate office. The additional stairs leads to the second floor with storage rooms.
Currently occupied by two separate tenants the property could be converted, subject to planning permission.
To the rear is a secure yard with garage door leading to rear lane.
Accommodation
From onsite measurements, the following Net Internal Areas have been provided:
Ground Floor Retail / Stores
33.60 m2
(362 sq ft)
First Floor Stores / Office
36.40 m2
(392 sq ft)
Second Floor Store
21.20 m2
(228 sq ft)
total NIA : 91.20 M2
(982 sq ft)
Services
The premises benefit from all mains services.
(It is recommended that all interested parties contact the local service providers to ensure that the services are installed and operational.)
Business rates
We understand from the Local Rating Authority that the premises have the following rv assessments:
Ground & First floor
rv: £5,500
Second floor
rv: £1,000
(All parties should make their own investigations.)
Tenancies
Ground and First Floor is let to Private Individual (T/A Delights) on an Internal Repairing lease terminating on 2.8.2027 at the passing rent of £8,500 pa exc, subject to a tenant only rolling 3 month break clause.
Second floor storage room is let to Private Individual on an Internal Repairing lease terminating on 3.8.2026 at a passing rent of £360 pa exc.
Tenure
Freehold (TY260896).
Price
Our client is seeking freehold offers in the region of £125,000, Subject to Contract, with the benefit of the current tenants.
Energy performance certificate
D 92
(Full details upon request upon request.)
VAT
VAT will not be chargeable on the sale of the property.
Legal costs
The ingoing purchaser will be responsible for the Vendors reasonable legal costs in connection with this transaction.
Viewing
By prior appointment with Frew Pain & Partners, contact:
James E F Pain
Tel: Email:
June 2025
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