Description:

The premises are arranged on Ground Floor only and are without doubt one of the most well presented properties to become available within Sea Road in recent years. The unit was extensively fitted by our clients in 2007 including good quality wood flooring, suspended tile ceilings with comfort cooling, glazed meeting room and well fitted kitchen to the rear. The property would suit a variety of retail or A2 uses including estate agency, letting agents and financial services.

Various fixtures, fittings and furnishings may be available by separate negotiation.

Location:

The property is prominently situated on Sea Road at its junction with Dent Street. Sea Road is a busy suburban shopping parade serving a densely populated residential area on the northern banks of the River Wear. A number of national and local covenants are represented nearby including the main Retailers, Banks, Building Societies and Estate Agencies.

Accommodation:

GROUND FLOOR
Sales Area
Internal Width 19’2” (5.84m)
increasing to 21’2” (6.45m)
Max Depth 28’7” (8.71m)
Sales Area 396ft2 (36.79m2)
Staffroom 66ft2 (6.13m2)
Rear Office 153ft2 (14.21m2)
Store 17ft2 (1.58m2)
WC

Leasehold:

We are advised the passing annual rental is £11,000.

Rateable Value:

Following an enquiry on the Valuation Office website we have ascertained that the Rateable Value is £10,750. However this figure cannot be relied upon and if necessary a written request should be made to the Local Authority for confirmation. The Uniform Business Rate for the Rates Year 2010/2011 is 41.4p.

As a new occupier rights of appeal may exist against the assessment shown above. For further information please contact our Rating Department.

Value Added Tax:

Figures quoted exclude VAT where chargeable.

Lease Terms:

The property is available to Let by way of Assignment of the current Lease which is held for a term of 10 years from 15th August 2007 (expires 14th August 2017). The Lease is drawn on effective FRI terms with service charge provisions. The lease contains a mutual option to break in 2012 (date to be confirmed) upon service of 3 months written notice by either party.

The Landlord accepts the principles of the Code of Practice for Commercial Leases in England and Wales. Alternative lease terms are available upon request. A copy of the Code can be obtained from the Royal Institution of Chartered Surveyors, 12 Great George Street, Parliament Square. London, SW1P 3AD Tel: 0207 6951535, Fax: 0207 3343795 or alternatively from the website: www.commercialleasecodeew.co.uk.

Legal Costs:

The Assignee will be responsible for the Assignor’s and the Landlord’s reasonable Legal Fees incurred in the matter.

Service Charge:

See Lease Terms .

Services:

The lease contains a mutual option to break in 2012 (date to be confirmed) upon service of 3 months written notice by either party.

Viewing:

Strictly by appointment with this office.

Reviews:

5 yearly Rent Reviews.