Lot 10 - 19-19a North Ravensworth Street, Millfield, Sunderland, Tyne and Wear, SR4 6BD
- Unconditional Online Auction Sale
- Guide Price* : £115,000
- Bedrooms: 4
- Bathrooms: 1
- Reception Rooms: 1
Ground Floor Drinking Establishment with 4 Bed Maisonette Above
Description
Ground Floor Drinking Establishment
4 Bed Maisonette Above
Established Residential Area
Potential rental income of £26,000pa
Freehold Title
We are pleased to offer for sale by auction this ground floor pub with a 4 bed maisonette above. The subject property is located along North Ravensworth Street, Sunderland. The property is well located within an established residential area with easy access to local amenities and transport links.
LOCATION
The subject property is located along North Ravensworth Street, Sunderland. The property is well located within an established residential area with easy access to local amenities and transport links. The closest bus stop is a short walk away as well as Millfield Metro Station being a 10 minutes walk. The subject property is 14 miles south east of Newcastle upon Tyne and 30 miles north of Middlesbrough.
TENURE
Freehold. Title number DU26625.
LEASE INFORMATION
The property is currently tenanted at £10,400 for the commercial unit, and £1,300pcm for the maisonette, totalling an annual income of £26,000. The tenants are due to vacate the property, which is to be sold with vacant possession.
ACCOMODATION
GROUND FLOOR:
129sqm (1388.54sqft)
MAISONETTE:
Lounge
Kitchen
Bedroom 1
Bedroom 2
Bedroom 3
Bedroom 4
Bathroom
RATEABLE VALUE
The adopted rateable value is £900 as of 1st April 2023.
Sourced from VOA.
COUNCIL TAX
Band A.
EPC
Available upon request (rating C and E).
ADDITIONAL TERMS
1. This lot is for sale subject to unconditional auction terms.
2. If the reserve price is met or exceeded, contracts will exchange with immediate effect upon the close of the auction.
3. Following exchange of contracts, parties have 28 days in which to complete the purchase (unless specified otherwise in the special conditions).
4. A non-refundable deposit of 5% is payable within 1 hour of the auction closing.
5. The winning bidder is to make payment to the auctioneer a reservation fee of 6% including VAT subject to a minimum of £6,000 including VAT. The reservation fee is payable in addition to the purchase price and is payable within 1 hour of the auction closing.
6. An administration charge of £714 including VAT is payable by the successful buyer within 1 hour of the auction closing.
7. A legal pack has been provided by the seller’s solicitor and is available to download. We strongly recommend reviewing this thoroughly and discussing any queries with your solicitor prior to bidding.
8. I acknowledge that the seller may accept my bid at any time prior to the scheduled auction end date.
Council Tax Band
A
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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