3 Colima Avenue Sunderland Enterprise Park Sunderland SR5 3XB

3 Colima Avenue
Sunderland Enterprise Park
Sunderland
SR5 3XB

Modern Office Investment

Modern office building providing 853.50 sq m (9,187 sq ft) accommodation
Established business park location, 2 miles from city centre
Nearby occupiers include Sunderland City Council, Konica Minolta Business Solutions and Manpower
Approximate site area of 0.4 hectares (1 acre) providing some 35 car parking spaces

Lot
23
Auction
11th December 2014
Rent
£73,120 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Modern Office Investment

Modern office building providing 853.50 sq m (9,187 sq ft) accommodation
Established business park location, 2 miles from city centre
Nearby occupiers include Sunderland City Council, Konica Minolta Business Solutions and Manpower
Approximate site area of 0.4 hectares (1 acre) providing some 35 car parking spaces

Lot 23
Auction 11th December 2014
Rent £73,120 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Office
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 13 miles north-east of Durham 14 miles south-east of Newcastle
Roads: A1231, A19, A690, A1018, A1(M)
Rail: Sunderland Railway Station
Air: Newcastle International Airport

Situation

The property is situated within the established Sunderland Enterprise Park approximately 2 miles to the north-west of Sunderland City Centre. Nearby occupiers include Sunderland City Council, Konica Minolta Business Solutions and Manpower.

Tenure

Virtual Freehold. By way of a lease to be granted on completion. Held for a term of years until 19th January 3003 at a peppercorn rent.

Location

Miles: 13 miles north-east of Durham 14 miles south-east of Newcastle
Roads: A1231, A19, A690, A1018, A1(M)
Rail: Sunderland Railway Station
Air: Newcastle International Airport

Situation

Tenure

Virtual Freehold. By way of a lease to be granted on completion. Held for a term of years until 19th January 3003 at a peppercorn rent.

Description

The property comprises a single storey office building currently arranged as two separate units. The property benefits from a site area of approximately 0.4 hectares (1 acre) providing some 35 car parking spaces

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
3a-c	Ground	Office	637.78 sq m	(6,865 sq ft)	INDIVIDUALS (t/a CDI Credit Management)	10 years from 11/11/2014 until 10/11/2024	£50,000	11/11/2019
3d	Ground	Office	215.72 sq m	(2,322 sq ft)	PHYSIOWORLD LTD (1)	5 years from 29/08/2014	£23,120 (2)	(28/08/2019)
Totals			853.50 sq m	(9,187 sq ft)			£73,120

(1)For the year ending 31st May 2013, Physioworld Limited reported a turnover of £11,000,903, pre-tax profits of £1,973,388 and a total net worth of £4,193,162. (Source: www.riskdisk.com 13/11/2014)
(2)The current rent for Unit 3D is £18,496 p.a.x. increasing to £23,120 p.a.x. in 2017. The Seller has agreed to adjust the completion monies so that the unit effectively produces £23,120 p.a.x. from completion of the sale.