Commercial property for sale in Sunderland

The Old School occupies aprominent site on the western fringe of Sunderland city centre at the junction of Simpson Street with Wellington Lane and being situated adjacent the Trimdon Street Retail Park. The property benefits from excellent transport links, lying just north of the A183 and west of the Wearmouth Bridge, offering convenient access to the A1231 as well as the A19 to the West. Sunderland Railway Station is easily accessible and has recently been the subject of a £26 million redevelopment program. Metro links are also just a short walk away with fast links to Newcastle upon Tyne in under 30 minutes, as well as numerous local bus routes accessible at Parklane bus terminal. Sunderland City centre is currently undergoing a significant transformation underpinned by the Riverside Sunderland development which has seen over 100,000 sq.ft. of Grade A office space newly developed with commitment from Ocado and Royal Sun Alliance. Building Design Northern Ltd (BDN), an award winning Northern Multi-Disciplined Architects and Engineering practice, acquired the building from Sunderland City Council in 2020, in a bid to give a new lease of life to an important part of Sunderland’s heritage. Shortly before BDN’s purchase of the building, The Old School suffered an arson attack, subsequently causing severe roof damage. The fire was concentrated around the central stair, which was essentially destroyed in its entirety. Following a successful planning application, in 2020 renovations, began to repair the fire damage, and fully renovate and transform the former derelict Victorian school. The renovations of the Old School, Simpson Street have created contemporary spaces to live, work and enjoy. Building Design Northern utilise a third of the building, as their company headquarters, with the rest of the building making up the 8 luxury apartments. As many original features as possible have been retained to sympathetically restore the building, in keeping with its character, whilst also fully modernising the Grade II listed property. The apartments combine the building’s beautiful original features with a stylish minimalist design. Specialist roofing and sash windows, with panoramic views of the city skyline, have been installed to match the period features of the property. Refurbished to the highest specification, and boasting a large airy office environment, packed with beautiful original features, the commercial section of the premises comprises: • Floorspace totalling 272sqm, spread across a ground and first floor • A main office, featuring a double height ceiling, with lots of natural light and ventilation • Large feature boardroom, with stunning fixtures and a panoramic perspective • Attractive reception area with a feature open fire • Side and rear courtyards. • Efficient air source heating system There is plenty of unallocated free parking outside of the building, with easy access to the city’s major connecting roads and just a short walk from bus, rail and Metro links. These are truly spectacular apartments designed by awardwinning architects who have unlocked the vast potential of this magnificent old building. Each of the eight stunning spaces provide stylish urban living, with high quality fixtures and fittings, seamlessly knitting together the School’s attractive original features with trendy industrial detailing. Features of each of the eight apartments include: • Contemporary open plan living • Beautiful original features retained throughout • High end finishes, including a modern kitchen and bathroom • Five with a stunning mezzanine floor • Efficient air source heating system • Resident parking • Access to a large rear and small side courtyard. The total floor area of the apartments is 503m2. Option 1 MIXED USE OFFICE/ INVESTMENT FOR SALE The freehold interest in the property is available with vacant possession at an asking price of £1,950,000 (One Million, Nine Hundred & Fifty Thousand Pounds), suitable for any owner occupier. Option 2 INVESTMENT OPPORTUNITY Sale of whole and lease back of the offices to Building Design Northern on a 12 month lease agreement at £55,000 (Fifty Five Thousand Pounds) pax, available at an asking price of £1,950,000 (One Million, Nine Hundred & Fifty Thousand Pounds). We anticipate an ERV of £150,000 per annum in respect residential apartments providing a total ERV of £205,000 per annum. Option 3 TO LET Office premises- The office accommodation is available to let by way of new lease agreement at an annual rent of £55,000 (Fifty Five Thousand Pounds) per annum. VAT All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT EPC Exempt due to grade II listed status. For general enquiries and viewings, please contact Peter Bartley or Helen Wall at Bradley Hall.

Commercial property for sale in Sunderland, England

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