* Fully let city centre investment property
* Prominently located at corner of John St/Atheneum Street
* Ground floor and basement coffee shop and restaurant
* Current income 24, 000 pa increasing to 25, 000 (Dec 23)
* Private car parking to rear included
* Long leasehold (999y from 2003)
**Summary**
*For sale via secure sale online bidding: Terms and conditions apply. *
We are pleased to offer to auction this excellent city centre investment
opportunity, prominently located along the corners of John Street and
Athenaeum Street. The property forms part of a larger building constructed
circa 1950/1960 and is arranged over ground floor and basement only with
allocated car parking to the rear. The upper floors are held under separate
title and do not form part of the demised property having being sold off in
recent years.
Please note that we have not inspected this property.
**Location**
John Street forms part of Sunniside which is the main professional area within
Sunderland City Centre. The property is prominently located on the corner of
John Street and Athenaeum Street immediately opposite TSB, Your Move and Ben
Hoare Bell Solicitors.
**Accommodation: No. 18 - Coffee @ The Bothy**
Ground floor
Caf and premises - 100. 70sqm (1, 084sqft)
**Basement**
Storage and W. C. s
**External**
Allocated car parking to rear.
**Accommodation: No. 18A - Vacant Restaurant**
Ground floor
Restaurant - 125. 88sqm (1, 355sqft)
**Basement**
Staff/storage - 9. 20sqm (99sqft)
**External**
Allocated car parking to rear.
**Lease Details**
18 John Street is let for a term of 5 years from Dec 2020 trading as Coffee @
the Bothy held on Fri terms subject to a schedule of condition. The rent is
stepped at 10, 000 in year 1, 11, 000 year 2 and 12, 000 in years 3 to 5. The
current passing annual rental is 11, 000 increasing to 12, 000 in December 2023.
The lease expires in December 2025.
Number 18a John Street comprises vacant restaurant let to Mr N Komeili for a
term of 15 years from 27th July 2016 expiring 2031 on Fri terms with 3 yearly
rent reviews. We are advised the current passing annual rent is 13, 000. The
premises are currently vacant and vacant passion may be available.
**Tenure**
Long leasehold of 999 years from 4 February 2003. Title number TY396893.
**Rateable Value**
The adopted rateable values are as follows as of 1st April 2023:
18 John Street: 9, 800
18a John Street: 9, 400
Sourced from voa.
**EPC**
Both available upon request (ratings D and C).
**Additional Information**
For further information please contact our office direct on , or alternatively
via e - mail on . With regards to viewing the subject property, this is to be
done strictly by appointment through Keith Pattinson Commercial department.
Please contact us to arrange an internal inspection, or to register your
interest.
**Auctioneers Additional Comments**
Pattinson Auction are working in Partnership with the marketing agent on this
online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will
require your details to be shared between both the marketing agent and The
Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or
unconditional (Traditional) auction terms and overseen by the auctioneer in
partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the
Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the
Marketing Agents website.
**Auctioneers Additional Comments**
Your details may be shared with additional service providers via the marketing
agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view
upon request and contains details relevant to the legal documentation enabling
all interested parties to make an informed decision prior to bidding. The
Legal Pack will also outline the buyers' obligations and sellers' commitments.
It is strongly advised that you seek the counsel of a solicitor prior to
proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer,
all bidders/buyers will be required to adhere to a verification and identity
process in accordance with Anti Money Laundering procedures.
**Auctioneers Additional Comments**
In order to secure the property and ensure commitment from the seller, upon
exchange of contracts the successful bidder will be expected to pay a non -
refundable deposit of 5% of the purchase price of the lot subject to any
special conditions detailed in the legal pack. The deposit will be a
contribution to the purchase price. A non - refundable reservation fee may also
be payable upon agreement of sale (Details of which can be obtained from the
auctioneers website). The Reservation Fee is in addition to the agreed
purchase price and consideration should be made by the purchaser in relation
to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or
beneficial to the customer to pass your details to third party service
suppliers, from which a referral fee may be obtained. There is no requirement
or indeed obligation to use these recommended suppliers or services.

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