Halifax House
Falcon Court
Stockton-on-Tees
TS18 3TS

Multi-Let Office Investment

  • Multi-let office investment located within established estate
  • Tenants include Home Group Limited and FSH Recruitment Solutions
  • Strong road connections via the A66, A19 and A1(M)
  • Asset management potential
  • Lot
    39
  • Auction
    24/Oct/2019
  • Rent
    £49,749 per Annum Exclusive
  • Status
    Sold
  • Price*
    £295,000
  • Sector
    Office
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of Administrators
Important Auction & Property Update
  • Halifax House<br>Falcon Court<br>Stockton-on-Tees<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 and Northern Powergrid. Falcon Court also benefits from a creche and dentist.

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 5 office suites. The office accommodation benefits from 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.

Completion Period

Six Week Completion

EPC

Available in the legal pack.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x. Review
GroundOffice
236.62 sq m
(2,547 sq ft)
HOME GROUP LIMITED (1)10 years from
23/05/2006 until
22/05/2016
£27,375Holding Over
FirstOffice
49.33 sq m
(531 sq ft)
FSH RECRUITMENT
SOLUTIONS LIMITED (2)
1 year from
01/05/2013 until
30/04/201
£5,000 (3)Holding over
FirstOffice
48.59 sq m
(523 sq ft)
WORLDTEL TRADING LTD3 years from
01/08/2017 (4)
£7,060 (3)31/07/2020
FirstOffice
70.98 sq m
(764 sq ft)
LIMEWOOD
CONTRACTING
SERVICES (UK) LTD
3 years from
26/08/2019 (5)
£10,314 (3)25/08/2022
FirstOffice
42.74 sq m
(460 sq ft)
VACANT POSSESSION   
Totals 
448.26 sq m
(4,825 sq ft)
  £49,749 

(1) Home Group Limited is a housing association founded in 1935 that houses over 116,000 people in 55,000 homes across England (Source: homegroup.org.uk 26/09/2019). For the year ending 31st March 2018, Home Group Limited reported a turnover of £364,703,000, pre-tax profits of £51,846,000 and a total net worth of £557,766,000 (Source: Experian Group 26/09/2019).
(2) FSH Recruitment Solutions, a recruitment specialist founded in 2011, was acquired by Templine Employment Agency along with several other recruitment agencies and since April 2018 all brands are now trading as Siamo Group (Source siamogroup.com 26/09/2019).
(3) Rent is inclusive of service charge and insurance.
(4) The lease provides for a rolling option to determine subject to 3 months' notice.
(5) The lease provides for a rolling option to determine after 26/08/2020, subject to 3 months' notice.

Property Documents

  • Site Plan
    Updated Date
    02.10.19
    File Size
    678 KB
    View PDF
  • Catalogue Page
    Updated Date
    02.10.19
    File Size
    770 KB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863 +44 (0)7899 877 224georgina.roberts@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@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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