Webber Pavilion Seaham Grange Industrial Estate Seaham County Durham SR7 0PZ

  • Webber Pavilion<br>Seaham Grange Industrial Estate<br>Seaham<br>County Durham<br>SR7 0PZ

Webber Pavilion
Seaham Grange Industrial Estate
Seaham
County Durham
SR7 0PZ

Substantial Modern Industrial Investment

  • Entirely let to Jacques Vert Group Limited
  • Tenant in occupation since at least 2012
  • Recently renewed lease at a re-based rent
  • Approximately 4,609.72 sq m (49,620 sq ft)
  • Extensive car parking
  • Approximate site area of 0.84 hectares (2.08 acres)
  • Well located off the A19 on established industrial estate
  • Producing £175,000 (gross)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    18
  • Auction
    11th February 2016
  • Rent
    Gross: £175,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,410,000
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Insolvency Practitioners Deloitte
Interested?
  • Expand
  • Photos
  • Map

Substantial Modern Industrial Investment

  • Entirely let to Jacques Vert Group Limited
  • Tenant in occupation since at least 2012
  • Recently renewed lease at a re-based rent
  • Approximately 4,609.72 sq m (49,620 sq ft)
  • Extensive car parking
  • Approximate site area of 0.84 hectares (2.08 acres)
  • Well located off the A19 on established industrial estate
  • Producing £175,000 (gross)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 18
  • Auction 11th February 2016
  • Rent Gross: £175,000 per Annum Exclusive
  • Status Sold
  • Price £1,410,000
  • Sector
    Industrial, Warehouse
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Insolvency Practitioners Deloitte

Property Information

Location
Miles
4 miles south of Sunderland, 11 miles north-east of Durham, 16 miles south-east of Newcastle upon Tyne, 23 miles north of Middlesbrough
Roads
A19, A690, A1018, A1(M)
Rail
Seaham Railway Station
Air
Newcastle International Airport
Situation

The property is located on Seaham Grange Industrial Estate an established industrial area strategically located off the A19, which provides direct access to Newcastle and Sunderland to the north and Middlesbrough to the south. The property is situated on the west side of Hall Dene Way, the principal road through the estate with nearby occupiers including Metso, GBA, Mission Foods, PTS, Homefair Blinds, IPS and Bizspace.

Tenure

Leasehold. Held from The County Council of Durham for a term of 125 years (less three days) from 22nd December 1995 expiring 21st December 2120 at a fixed rent of £250 per annum.

Location
Miles
4 miles south of Sunderland, 11 miles north-east of Durham, 16 miles south-east of Newcastle upon Tyne, 23 miles north of Middlesbrough
Roads
A19, A690, A1018, A1(M)
Rail
Seaham Railway Station
Air
Newcastle International Airport
Situation

The property is located on Seaham Grange Industrial Estate an established industrial area strategically located off the A19, which provides direct access to Newcastle and Sunderland to the north and Middlesbrough to the south. The property is situated on the west side of Hall Dene Way, the principal road through the estate with nearby occupiers including Metso, GBA, Mission Foods, PTS, Homefair Blinds, IPS and Bizspace.

Tenure

Leasehold. Held from The County Council of Durham for a term of 125 years (less three days) from 22nd December 1995 expiring 21st December 2120 at a fixed rent of £250 per annum.

Description

The property, constructed in 1998, comprises a substantial ground floor warehouse with office and ancillary accommodation on the first floor. There is a mezzanine floor providing additional storage which is understood to be a tenants improvement. The property benefits from an approximate eaves height of 6.20 metres (20 ft), four vehicle roller shutter doors and extensive car parking.

Six week completion
Subject to superior landlord’s consent to assign leasehold interest.

Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

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

Description

The property, constructed in 1998, comprises a substantial ground floor warehouse with office and ancillary accommodation on the first floor. There is a mezzanine floor providing additional storage which is understood to be a tenants improvement. The property benefits from an approximate eaves height of 6.20 metres (20 ft), four vehicle roller shutter doors and extensive car parking.

Six week completion
Subject to superior landlord’s consent to assign leasehold interest.

Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

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 Reversion
Ground
First 		Warehouse
Office/Ancillary
4,168.76 sq m
440.96 sq m
(44,873 sq ft)
(4,747 sq ft)
 JACQUES VERT
GROUP LIMITED
(1)		 5 years from 01/10/2015
on a full repairing and
insuring lease (2)		 £175,000 30/09/2020
Totals  
4,609.72 sq m
(49,620 sq ft)
     £175,000

(1) Established in 1977, Jacques Vert Group is a concessions based business trading in 470 stores throughout the UK, Europe and North America, including Debenhams, John Lewis, House of Fraser, Independent Department Stores (AIS), as well some standalone brand stores in the UK. Jacques Vert Group has become one of the leading British Fashion Houses and the UK’s largest womenswear concession retailer with a strong online presence across all of its brands. (www.jacquesvertgroup.com)
(2) The lease provides for a tenant option to determine on 1st October 2018 subject to six months’ notice.

Contacts

Seller's Solicitors
Olswang LLP 2nd Floor, The Blade Abbey Square
Reading
RG1 3BE
Carol Griffin 0207 071 7357carol.griffin@olswang.com  Lia Machado 020 7071 7308lia.machado@olswang.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

You may also be interested in

By clicking the Submit button I confirm that I would like to get updates on this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

We will keep you updated about lot xthis property.

In the meantime, if you would like to speak to the Surveyor about this property, please call on .

Are you sure you want to remove this property from your Watch List?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?