Dudley Court South, The Waterfront Business Park Dudley West Midlands DY5 1XF

Dudley Court South, The Waterfront Business Park
Dudley
West Midlands
DY5 1XF

Modern Office Investment with Potential

  • Let to Managed Serviced Offices Limited until 2024 at only £5 p.s.f.
  • 3 yearly RPI linked rental increases (3)
  • Approximately 1,490.90 sq m (16,048 sq ft) of flexible accommodation
  • Adjacent to the Major Merry Hill Shopping Centre and ‘’The Landmark’’ Residential Development
  • Residential conversion potential (subject to consents) with canal frontage
  • Producing £80,240 p.a.x. subject to note (2)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    77
  • Auction
    8th December 2016
  • Rent
    £80,240 per Annum Exclusive
  • Status
    Sold
  • Price
    £750,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Modern Office Investment with Potential

  • Let to Managed Serviced Offices Limited until 2024 at only £5 p.s.f.
  • 3 yearly RPI linked rental increases (3)
  • Approximately 1,490.90 sq m (16,048 sq ft) of flexible accommodation
  • Adjacent to the Major Merry Hill Shopping Centre and ‘’The Landmark’’ Residential Development
  • Residential conversion potential (subject to consents) with canal frontage
  • Producing £80,240 p.a.x. subject to note (2)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 77
  • Auction 8th December 2016
  • Rent
  • Status Sold
  • Price £750,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
10 miles west of Birmingham, 8 miles south of Wolverhampton, 24 miles north of Worcester
Roads
A458, A4036, A491, M5
Air
Birmingham Airport
Situation

Dudley Court South is situated some 2.5 miles south-west of Dudley town centre and 10 miles west of Birmingham on a 750,000 sq ft business park accessed off Waterfront Way. The major Merry Hill Shopping Centre is approximately 700 metres to the south, with anchor tenants including Marks & Spencer, Debenhams and Sainsbury’s. Also located nearby is "The Landmark", a major housing development consisting of some 181 apartments.

Tenure

Virtual Freehold. Held for a term of 999 years from 25th March 1989 (less two days) at a peppercorn rent.

Location
Miles
10 miles west of Birmingham, 8 miles south of Wolverhampton, 24 miles north of Worcester
Roads
A458, A4036, A491, M5
Air
Birmingham Airport
Situation

Dudley Court South is situated some 2.5 miles south-west of Dudley town centre and 10 miles west of Birmingham on a 750,000 sq ft business park accessed off Waterfront Way. The major Merry Hill Shopping Centre is approximately 700 metres to the south, with anchor tenants including Marks & Spencer, Debenhams and Sainsbury’s. Also located nearby is "The Landmark", a major housing development consisting of some 181 apartments.

Tenure

Virtual Freehold. Held for a term of 999 years from 25th March 1989 (less two days) at a peppercorn rent.

Description

The property comprises a well specified and modern self-contained building on the ground and first floors offering flexible accommodation and benefiting from central heating, suspended ceilings and two passenger lifts. The property benefits from designated car parking spaces in addition to ample free parking in a large car park adjoining the office complex.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a well specified and modern self-contained building on the ground and first floors offering flexible accommodation and benefiting from central heating, suspended ceilings and two passenger lifts. The property benefits from designated car parking spaces in addition to ample free parking in a large car park adjoining the office complex.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
Ground
First
Office
Office
745.45 sq m
745.45 sq m
(8,024 sq ft)
(8,024 sq ft)
MANAGED
SERVICED OFFICES
LIMITED (1)
10 years and 6 months
from 22/11/2013 until
21/05/2024 (2)
£80,240 (2 )
22/11/2016 and 3 yearly
rental increases linked
to RPI (3)
Totals  
1,490.90 sq m
(16,048 sq ft)
   
£80,240

(1) Managed Serviced Offices offer a range of fully furnished, flexible, serviced offices for clients with business centres throughout the West Midlands, Central England and the South East. (Source: www.msoworkspace.com).
(2) Under the terms of the lease, the current rent reserved is £64,192 p.a.x. The lease provides for the rent to be reviewed on 22/11/2016 to a minimum of £80,240 p.a.x. or increased further in line with the formula dated in the rent review clause in the lease. Therefore the property will produce a minimum of £80,240 per annum exclusive.
(3) The rent reviews are linked to the Retail Price Index (please see lease for formula).

Property Documents

  • Catalogue Page
    Updated Date
    16.11.16
    File Size
    2 MB
    View PDF
  • Site Plan
    Updated Date
    16.11.16
    File Size
    57 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Boyes Turner LLP Abbots House, Abbey Street
Reading
RG1 3BD
William Nassau-Lake 0118 952 7246wnassau-lake@boyesturner.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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