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Ttonic Bar

Shop for sale

£980,000 10,806 sq ft

MHPI Ltd
View the performance or update the listing in CoStar
Contacts

James Metcalf - MHPI Ltd

Simon Harland - MHPI Ltd

Full address
12-14 Vine Pl, Sunderland SR1 3NE – Sunderland
Highlights
  • Prime leisure pitch in Sunderland City Centre
  • Established and successful tenant having been in occupation for over 10 years
  • City benefitting from an extensive regeneration programme, with over £1.5bn of investment scheduled
  • Well located for transport links, with the A19 running north south and linking the city with Newcastle to the north and Teesside and York to the south
  • Benefits from excellent rail links both locally and nationally and has a number of station
Property type
Shop for sale
Asking price
£980,000
Available space range
There is 1 space available. This measures 10,806 sq ft.
Features
Storage Space
Brochure
Download the brochure

Sale details

Sale unit 3995700 Available

10,806 sq ft, £90.69 per sq ft

Unit Sale unit 3995700
Address 12-14 Vine Pl, Sunderland, Tyne And Wear, SR1 3NE, GB
Size 10,806 sq ft
Price £980,000
Price per unit £90.69 per sq ft
Unit Sale unit 3995700
Address 12-14 Vine Pl, Sunderland, Tyne And Wear, SR1 3NE, GB
Size 10,806 sq ft
Price £980,000
Price per unit £90.69 per sq ft
Sale type Investment
Tenure Freehold
Net income yield 8.01%
Financial type Actual
Financial year 2018
Net operating income £78,498

Sale notes

  • The property is let in its entirety to lgt properties (north east) limited for a term of 25 years from 20th december 2017 giving over 24 years unexpired.
  • The lease incorporates open market rent reviews every fifth year of the term.
  • The lease also incorporates a personal guarantee.
  • The passing rent is £83,000 per annum.
  • The tenant has been in occupation for over 12 years and run a successful operation over this time which is demonstrated by their recent lease renewal.
  • They are experts in this sector and operate a number of other bars in this area of sunderland.

Property description

The property comprises three previously separate terraced buildings of traditional brick construction under a pitched slate roof with flat mineral felt covered roofs to the rear. The buildings are arranged over basement,ground, first and second floors. The three buildings have been combined to provide an open plan leisure unit which has traded as a bar for over 14 years.

Building subtype
Bar
Number of storeys
2
Rentable building area
10,806 sq ft
Year built
1893

Attachments

PDF #1 Marketing brochure/flyer Download

Major tenants

TTonic 10,806 sq ft

This shop for sale is located in Sunderland.

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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to MHPI Ltd. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact MHPI Ltd for full details and further information.