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UNDER OFFER

Life of Riley, 3-5 Green Terrace, Sunderland, SR1 3PZ

£545,000

Business rates & charges may apply

Christie & Co, Pubs & Restaurants
SIZE

Ask agent

SECTOR

Pub for sale

Key features

  • Investment Sale
  • 15 year lease from 2025*
  • Annual Rent £65k/pa - Gross Yield 11.9%
  • Central Location with Good Footfall
  • Immaculately Presented
  • Fully Licensed - EPC Rating B
  • Christie & Co Ref: 6450549

Description

Description

A large two storey terraced building of red brick construction, with slate tile roof. The property is decorated in a modern and contemporary style and well presented throughout.

Location

The premises is located in an excellent position on Green Terrace in the heart of Sunderland, close to the city centre and University.

The area is busy with good levels of footfall with many bars, restaurants and retail operators nearby. Sunderland is currently undergoing a large regeneration programme with many parts of the city seeing investment in development and growth.

Internal Details

Ground Floor
Large open plan trading area with seating for c.120
Open plan kitchen and bar servery
VIP Lounge with separate bar servery and seating for c.50 guests
Stair access to first floor

First Floor
Large bar servery
Separate glass wash areas
Raised stage area
Disabled lift
Staff room and manager's office

Ancillary Areas

WC's
Well maintained cellar
Commercial grade kitchen
Storage facilities

The Opportunity

The Life of Riley is an incredibly well invested pub/bar and restaurant business in a prime spot in Sunderland town centre, forming an integral part of a long established licensed circuit.

Currently tenanted, the property achieves an annual rent of £65,000.

Trading Hours

Monday & Tuesday
Closed

Wednesday & Thursday
11:00am - 1:00am

Friday & Saturday
11:00am - 3:00am

Sunday
11:00am - 12.00midnight

Tenure

The property is currently tenanted to a longstanding and experienced operator.

- Term :10 years, commencing on and including 17 June 2024. Renewal of previous 10 year lease.
- Passing rent: £65,000 per annum
- Rent Review: Start of years two and six
- Full Repairing & Insuring Terms

A copy of the lease can be provided to seriously interested parties on request.

The Landlord & Tenant are currently negotiating a new, 15 year lease, whereby the tenant will personally guarantee the rent for the first 12 months. The tenant is committed to the long term future of the business, which should provide any investor with assurances.

Business Rates

The Rateable Value as at 1 April 2023 is £43,250. Confirmation of actual rates payable can be obtained from the local Authority.

Regulatory

Premises Licence

Energy Performance Certificates

EPC 1

Brochures

Life of Riley, 3-5 Green Terrace, Sunderland, SR1 3PZ

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Park Lane Metro Station0.2 miles
  • Sunderland Station0.3 miles
  • University Metro Station0.4 miles

About Christie & Co, Pubs & Restaurants

Whitefriars House, 6 Carmelite Street, London, EC4Y 0BS

We’re the leading specialist advisor for buying and selling businesses in our sectors - hotels, pubs, restaurants, childcare, healthcare, convenience retail, leisure and medical.

If you’re looking to buy or sell a business in our specialist sectors – from a pharmacy in Sussex to a hotel in Austria – our expert advice and collaborative support will help you achieve your goals. You may be an independent first-time buyer or a multinational adding to your portfolio; either way, you’ll discover that our personalised service is focused on helping you achieve your ambitions.

Clients have access to our carefully managed network of potential buyers. This unique database of contacts has been continually developed by our advanced IT capabilities and benefits from both our years of experience developing our network and our wide geographical coverage.

Where we work

We employ the largest team of sector specialists in the UK and the largest group of hotel specialists in Europe, providing professional brokerage and advisory services from offices in major cities across Britain and Europe. And because we’ve been doing this for over 80 years, we know our sectors and local markets inside out. We work closely with our clients to guide and conclude transactions of any size, covering hotels, restaurants and pubs, leisure, forecourts and convenience retail businesses, social care and elderly care, childcare & education facilities, dental practices and pharmacies.

Our professional services

We offer unrivalled insight, experience and expertise across your choice of services, including brokerage, consultancy, finance, development, investment, surveying, rent reviews, dispute resolution, corporate valuation, and turnaround & recovery. These services are all underpinned by our in-depth market intelligence and leading-edge technology. And we’re accredited by the Royal Institution of Chartered Surveyors (RICS), so you can trust in our professionalism.

What makes us tick

Businesses are about people, so relationships matter to us. We bring an integrity and transparency to business which can be all too rare – and that’s why people trust us. Our clients will attest to our genuine desire to help achieve their objectives, our attention to detail, and our tireless hard work on their behalf. We understand that buying a business can bring its own pressures and strains; needs can change, plans may need to be adjusted, and opportunities can come and go. But we’re always here, a constant, flexible and reliable force you can count on.

Our opening hours for all offices:

Mon – Fri, 9am – 5.30pm

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 6450549-fh. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Christie & Co, Pubs & Restaurants. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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