Apollo House, Bracken Hill Business Park Birchwood Drive Peterlee County Durham SR8 2RS

Apollo House, Bracken Hill Business Park
Birchwood Drive
Peterlee
County Durham
SR8 2RS

Modern Vacant Office Opportunity

  • Approximately 4,020.50 sq m (43,276 sq ft)
  • Site area 0.78 hectares (1.92 acres)
  • Parking for approximately 150 cars
  • VAT-free opportunity
  • Lot
    91
  • Auction
    19th October 2017
  • Rent
    £34,600 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

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

Modern Vacant Office Opportunity

  • Approximately 4,020.50 sq m (43,276 sq ft)
  • Site area 0.78 hectares (1.92 acres)
  • Parking for approximately 150 cars
  • VAT-free opportunity
  • Lot 91
  • Auction 19th October 2017
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
9 miles east of Durham, 11 miles south of Sunderland, 18 miles south of Newcastle
Roads
A19, A181, A1(M)
Rail
Seaham Railway Station, Hartlepool Railway Station
Air
Durham Tees Valley Airport, Newcastle International Airport
Situation

Peterlee, a predominantly residential suburb, is situated 8 miles east of Durham, on the west side of the A19, equidistant from Middlesbrough to the south and Sunderland to the north. The property is prominently located in the established Bracken Hill Business Park, a fully developed site of approximately 36 acres located 1 mile to the west of Peterlee. Occupiers include HP, Auxillis, Capita, HMRC, the NHS and Profound Services.

Tenure

Long Leasehold. Long Leasehold. Held for a term of 175 years less 3 days from 3rd August 1999 at a peppercorn rent.

Location
Miles
9 miles east of Durham, 11 miles south of Sunderland, 18 miles south of Newcastle
Roads
A19, A181, A1(M)
Rail
Seaham Railway Station, Hartlepool Railway Station
Air
Durham Tees Valley Airport, Newcastle International Airport
Situation

Peterlee, a predominantly residential suburb, is situated 8 miles east of Durham, on the west side of the A19, equidistant from Middlesbrough to the south and Sunderland to the north. The property is prominently located in the established Bracken Hill Business Park, a fully developed site of approximately 36 acres located 1 mile to the west of Peterlee. Occupiers include HP, Auxillis, Capita, HMRC, the NHS and Profound Services.

Tenure

Long Leasehold. Long Leasehold. Held for a term of 175 years less 3 days from 3rd August 1999 at a peppercorn rent.

Description

The property comprises ground and first floor office accommodation benefiting from car parking for approximately 157 cars. The property also benefits from being fitted with 792 solar energy panels capable of generating 325 kilowatts (1).

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 ground and first floor office accommodation benefiting from car parking for approximately 157 cars. The property also benefits from being fitted with 792 solar energy panels capable of generating 325 kilowatts (1).

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 Reviews
Ground
First
Office
Office
2,040.25 sq m
1,980.25 sq m
(21,962 sq ft)
(21,316 sq ft)
VACANT
POSSESSION
     
Ground Car Parking
84 car parking spaces
AUXILLIS
SERVICES LTD
Right to use on
Licence until
13/03/2020
Income
£9,600 (3)
 
Roof 792 Solar Energy
panels and other
ancillary plant (2)
SYMBIO
ENERGY
LIMITED
25 years until
10th July 2039
£25,000 (1) Annual index
linked
increases (1)
Total
4,020.50 sq m
(43,276 sq ft)
    £34,600 (1)  

(1) As to the solar energy panels, there is a lease granted in favour of Symbio Energy Limited for a term of 25 years until 10th July 2039 at a peppercorn rent. There is a separate Solar Supply and Generation Contract between the Seller and Symbio Energy LLP that provides for the feed in tariff from the national grid to be paid to the Seller. The feed in tariff for the last three years has been an average of £25,000 per annum. See legal pack for detailed accounts. The feed in tariff unit price from the national grid is increased annually in line with the Retail Price Index. The Special Conditions of Sale will provide for the buyer to opt to either revoke the lease and the Solar Supply and Generation Contract and for the buyer to contract with any energy supplier directly or for the buyer to take the place of the Seller in the lease and the Solar Supply and Generation Contract.
(2) The installation costs incurred by the Seller for the Solar 792 solar panels and ancillary plant was £413,325. The solar panels have generated an average of 225,687 Kilowatts over the last 3 years. Full details are available in the legal pack.
(3) The car parking licence is determinable on one month’s written notice

Property Documents

  • Catalogue Page
    Updated Date
    11.11.19
    File Size
    521 KB
    View PDF
  • Site Plan
    Updated Date
    11.11.19
    File Size
    353 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
Bosley & Co Solicitors 5 Marlborough Place
Brighton
BN1 1UB
Ovie Opone 01273 608 181ovie@bosley.co.uk

Useful Links

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

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