Summary - 5, PEACOCK STREET WEST SR4 6LQ
1 bed 1 bath Land
Large freehold site with immediate income and upside through lease reversion.
Freehold industrial complex totalling 6,685 sq ft across multiple units
Let to four occupiers producing £27,600 pa (average £4.13 psf)
Close to Sunderland Royal Hospital, university and Metro (Millfield)
Secure rear yard with large roller shutter doors, vehicular access from Pallion Road
Parts of roof are corrugated asbestos; some windows single-glazed timber
Several occupiers on short, flexible leases — rent reversion opportunity
Area has higher crime and economic deprivation; factor into leasing strategy
Seeking offers over £350,000 with potential >10% return after rent increase
A substantial freehold industrial complex totalling 6,685 sq ft on Peacock Street West, one mile from Sunderland city centre. The multi-unit site is let to four flexible occupiers producing £27,600 pa, presenting immediate income and clear scope to increase rents to market levels. Located close to Sunderland Royal Hospital, student housing and the university—the location supports both trade and service uses.
The buildings are practical, brick-built industrial units with concrete floors, high ceilings and large roller shutter access, plus a two-storey element currently used as a café and treatment rooms. The site includes a secure rear yard accessed from Pallion Road, suitable for deliveries, parking or servicing. Vehicle-focused occupiers and light industrial operators will find the layout useful for workshop and storage functions.
Notable drawbacks are present and factual: parts of the roof are corrugated asbestos, many windows are single-glazed timber casements, and several tenants occupy on short, flexible terms. The current average rent is low at £4.13 psf, reflecting tenant mix and lease lengths; updating to longer-term agreements will be required to realise the quoted potential yield. The area has higher-than-average crime and sits within a deprived local ward, which should be considered for long-term occupational stability or redevelopment planning.
For an investor or an operator, this is either a value-add multi-let income play with potential for immediate rental uplift, or a redevelopment opportunity (subject to planning) given the mixed-use surrounding area. Offers are sought in excess of £350,000, reflecting a low capital value per sq ft and scope for improved returns once leases and fabric issues are addressed.
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