INVESTMENT Hawksley House 28 John Street Sunderland SR1 1JG

Location

Type Leisure
Terms Investment income
Tenure Leasehold
Size 2201 sq ft
Price £120,000
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Description

The property is situated within the southern section of John Street close to the junction with Borough Road. The premises form the basement and part ground floor of Hawksley House- a stunning residential conversion of former offices. The development is in the business quarter of the city centre and is opposite the County Court- with a number of solicitors firms and niche retailers in close proximity. The Sunderland Library and Winter Gardens are at the end of John Street and there is also an established JD Wetherspoon public house at the junction of Borough Road and John Street making this a popular area throughout the day and into the evening.
ACCOMMODATION & LEASE TERMS
The subject premises form the basement of the building with a stairway access up to ground floor level at the rear allowing access to wc facilities and a rear yard for loading and servicing.
According to the Valuation Office the premises provide the following floor areas:
Restaurant 117.9sqm (1269sqft)
Kitchen 51.8sqm (558sqft)
Storage – 4 rooms totaling 34.7sqm (374sqft)
The premises are let to an owner operator Mr James Shadforth who started the business from scratch on the 19th November 2008. The tenant has a lease for 25 years at a current passing rental of £17,450 per annum. Rent reviews are every 5 years. The premises are let on full repairing and insuring terms by way of service charge contribution which is capped under the terms of the lease.