Retail premises for sale

Victoria Place, Sunderland SR4

Summary

For sale via online auction: Fees apply
Two-storey end-of-terrace commercial building with approved planning for conversion into two flats


An excellent investment opportunity ideal for developers, investors, or those looking for a renovation project. This two-storey end-of-terrace property occupies a prominent roadside position and benefits from approved planning permission to convert the existing commercial premises into two self-contained residential flats, unlocking strong future rental or resale potential.

Currently arranged as a ground-floor commercial unit with upper-floor ancillary space, the building offers generous internal square footage and a flexible layout suited to redevelopment. Internally, the property requires full modernisation throughout, providing a blank canvas for refurbishment to your preferred specification.

Key Features:

- End-of-terrace two-storey commercial building
- Approved planning permission for conversion into 2 residential flats
- Strong potential for capital growth and rental income
- Prominent street frontage with excellent visibility
- Spacious internal layout ready for redesign
- Situated within an established residential area with good local amenities and transport links
- This property presents a rare opportunity to add value through conversion and refurbishment. Early viewing is highly recommended to appreciate the scale and potential on offer.

Location

Located in Sunderland, Tyne and Wear. This two-storey end-of-terrace property occupies a prominent roadside position and benefits from approved planning permission

Accommodation

Currently arranged as a ground-floor commercial unit with upper-floor ancillary space, the building offers generous internal square footage and a flexible layout suited to redevelopment. Internally, the property requires full modernisation throughout, providing a blank canvas for refurbishment to your preferred specification.

Tenure

TY194642 - Freehold

Rateable Value

The adopted rateable value is 5,600 as of 1 April 2023.

EPC

Available upon request (rating D).

Additional Information

For further information please contact our office directly on , or alternatively via email on . With regards to viewing subject property, this is to be done strictly by appointment

Auctioneers Additional Comments

Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure aml procedures are carried out in accordance with the law

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price, Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts, the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (Subject to a minimum fee which could be up to 7,200 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.