Victor House, Falcon Court
Preston Farm Industrial Estate
Stockton-on-Tees
County Durham
TS18 3TS

Modern Retail Investment

  • Two retail units within established business park
  • Part let to Greggs Plc until 2029 (subject to option)
  • Located in the centre of Falcon Court surrounded by over 30 office buildings
  • Occupiers within the Business Park include The NHS, AES Seal Plc and Home Group Limited
  • Lot
    26
  • Auction
    04/Apr/2019
  • Rent
    £25,500 per Annum Exclusive
  • Status
    Available
  • Price*
    £250,000
  • Sector
    High Street Retail
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of administrators Moorfields
  • Victor House, Falcon Court<br>Preston Farm Industrial Estate<br>Stockton-on-Tees<br>County Durham<br>TS18 3TS
  • Expand
  • Photos
  • Map

* 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 and dentist.

Tenure

Virtual Freehold. Disposal to be by way of the grant of a new lease for a term of 999 years from completion at a peppercorn rent which shall include rights to parking.

Description

The property comprises two ground floor retail units arranged as an L shape. The property benefit from rights to parking.

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

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

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
GroundRetail106.75 sq m(1,149 sq ft)GREGGS PLC (1)10 years from
07/02/2019 until
06/02/2029 (2)
£12,50007/02/2024
GroundRetail
145.39 sq m
(1,565 sq ft)
INDIVIDUALS
t/a Shine Hair &
Beauty (3)
10 years from
25/07/2014 until
24/07/2024 (4)
£13,00025/07/2019
Total
252.14 sq m
(2,714 sq ft)
  £25,500 

(1) For the year ending 30 December 2017, Greggs Plc reported a turnover of £960,005,000, pre-tax profits of £71,945,000 and a total net worth of £284,626,000 (Source: Experian Group 07/03/2019).
(2) The lease provides a tenant option to determine on 07/02/2024.
(3) www.shine-hairandbeauty.co.uk
(4) The tenant did NOT exercise their July 2019 break option and the notice period has now passed.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    21.03.19
    File Size
    22 MB
    Login to View
  • Catalogue Page
    Updated Date
    12.03.19
    File Size
    961 KB
    View PDF
  • Site Plan
    Updated Date
    12.03.19
    File Size
    586 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

By clicking the Submit button I confirm that I would like to register my interest in 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.

Are you sure you want to remove this property from My Catalogue?

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

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now