Wellington House, Falcon Court
Stockton-on-Tees
County Durham
TS18 3TS

Multi-let Office Investment

  • Multi-let office investment located within established estate
  • Tenants include Interocean Personnel Services (UK) Limited and Solutions Wealth Management Limited
  • Strong road connections via the A66, A19 and A1(M)
  • Asset management potential
  • Lot
    31
  • Auction
    14/Feb/2019
  • Rent
    £28,445 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price*
     
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of Moorfields
Important Auction & Property Update
  • Wellington House, Falcon Court<br>Stockton-on-Tees<br>County Durham<br>TS18 3TS
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* More information on the term "price" can be found here

Property Information

Location
Miles
13 miles north-west of Darlington
24 miles south-east of Durham
35 miles south of Newcastle upon Tyne
Roads
A66, A19 and A1(M)
Rail
Stockton Rail
Air
Durham Tees Valley International Airport
Situation

Falcon Court is located on the established and popular Preston Farm Business Park, just two miles south of Stockton-on-Tees town centre. The business park benefits from strong road connections via the A135, A66 and A1(M). Occupiers within the Business Park include The NHS, AES Seal Plc, Home Group Limited and Northern Powergrid. Falcon Court also benefits from a creche, dentist and two café outlets, including Greggs. The Teesside Retail Park and Leisure Scheme, which includes a David Lloyd Club, is located towards the north-east of the Business Park.

Tenure

Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent.

Description

The property comprises a purpose built, detached office building currently arranged to provide six office suites. The office accommodation benefits from raised floors, category II lighting and 2.8m floor to ceiling height. The property benefits from the use of shared car parking with other buildings on the estate.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

EPC

Band C. See legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x (gross)Reversion
GroundOffice235.97 sq m(2,540 sq ft)VACANT POSSESSION   
FirstOffice44.13 sq m(475 sq ft)VACANT POSSESSION   
FirstOffice57.51 sq m(619 sq ft)SOLUTIONS WEALTH
MANAGEMENT (1)
3 years from
01/06/2015
£9,000 (2)Holding Over
FirstOffice26.76 sq m(288 sq ft)RIOBA GROUP LTD3 years from
01/12/2017
£3,645 (2)30/11/2020
FirstOffice59.27 sq m(638 sq ft)EQUINITY TECHNOLOGY
LIMITED (3)
5 years from
01/10/2018 (4)
£7,800 (2)30/09/2023
FirstOffice
37.53 sq m
(404 sq ft)
INTEROCEAN PERSONNEL
SERVICES (UK) LIMITED (5)
5 years from
01/07/2013
£8,000 (6)Holding Over
Total
461.17 sq m
(4,964 sq ft)
  £28,445 

(1) Established in 2009, the team at Solutions Wealth Management Ltd has many years’ experience providing practical financial planning advice to people, families and businesses in the North East, North Yorkshire and surrounding areas. (Source: solutionswealthmanagementsites.simplymembersites2.co.uk 15/01/2019).
(2) Rent inclusive of service charge and insurance.
(3) Equinity is a leading-edge, web-based horse welfare, training and yard management tool (Source: equinitytechnology.com 15/01/2019).
(4) The lease to Equinity Technology Limited is subject to an option to determine on 01/10/2021.
(5) For the year ending 31st December 2017, Interocean Personnel Services (UK) Ltd reported a turnover of £9,481,754, pre-tax profits of £43,463 and a total net worth of £1,771,479 (Source: Experian Group 15/01/2019)
(6) Rent inclusive of service carge.

Property Documents

  • Site Plan
    Updated Date
    22.01.19
    File Size
    608 KB
    View PDF
  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    562 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Seller's Solicitors
Brecher LLP 64 North Row
London
W1K 7DA
James Empson 0207 563 1039jempson@brecher.co.uk

Useful Links

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