Lot 86 - 2 Prospect Row, Sunderland, Tyne and Wear, SR1 2BP
- Unconditional Online Auction Sale
- Guide Price* : £800,000
Three storey mixed use tenanted investment
Description
The property comprises a substantial detached brick-built building constructed in 1886, originally serving as the vicarage for the neighbouring Holy Trinity Church. Arranged over three levels, the building remained unused for a number of years before undergoing an extensive refurbishment in the late 2000s, completed to an exceptionally high standard throughout.
The building has been well preserved and carefully maintained over the years and is currently leased to a charity. The property is let for £72,000 per annum on a 25 year lease and is used as an autistic children's school and home.
The ground floor is used as a learning centre for vulnerable children or children with autism and special needs. The ground floor provides high-quality W.C. facilities, generous storage provisions, and direct access to the rear yard.
The first floor offers three spacious bedrooms, each with its own high-specification en-suite, together with a lounge, bathroom, and a modern, fully fitted kitchen. The second floor provides an additional two bedrooms, a further lounge, a kitchen, and a bathroom. These floors are used as a home for life scheme for two young people due to move in on a permanent basis.
Externally, the property benefits from a brick-paved rear yard enclosed by a stone wall boundary, while the front of the building features a small, neatly presented yard area with a brick wall and two carved stone entrance pillars with an adjoining gate.
The property is located on The Quadrant Road in Sunderland’s historic East End, overlooking the Sunderland Docks and situated within The Old Sunderland Conservation Area.
Sunderland’s East End has a rich industrial heritage dating back to the early 18th century, when shipbuilding and maritime trade flourished along the banks of the River Wear. Notable surviving buildings from this period include Holy Trinity Church and the Queen Street Masonic Temple, both of which reflect the area’s early development. By the mid-20th century, much of the Victorian-era housing stock had been replaced as part of widespread regeneration programmes aimed at improving living conditions for residents.
Today, the area benefits from excellent connectivity and close proximity to Sunderland City Centre, offering convenient access to shopping, business, and leisure amenities. The property lies just east of the A690, providing efficient transport links to south Sunderland and County Durham, as well as northwards to Tyneside and Newcastle.
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.
* 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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