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

Multi-Let Office Investment

  • Multi-let office investment located within established estate
  • Part let to Accent House Limited
  • Strong road connections via the A66, A19 and A1(M)
  • Asset management potential
  • Lot
    11
  • Auction
    11/Dec/2019
  • Rent
    £20,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £225,000
  • Sector
    Office
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • On behalf of Administrators at Moorfields
  • Trident 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 two office suites. The office accommodation has recently been refurbished and 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.

EPC

Band C. Available in legal pack at acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
GroundOffice
237.00 sq m
(2,551 sq ft)
ACCENT HOUSING
LIMITED (1)
6 years from
24/10/2019 until
23/10/2025 (2)
£20,00024/10/2022
FirstOffice
237.00 sq m
(2,551 sq ft)
VACANT   
Total
474.00 sq m
(5,102 sq ft)
  £20,000 

(1) Accent is a housing association established in 1966 that provides homes and services for a diverse range of customers. The 20,000+ homes, which are spread over the North, East and South of the country, are home to over 35,000 people (Source: https://www.accentgroup.org 08/11/2019).
(2) The tenant is currently benefiting from a rent free period due to expire on 24/01/2020. The seller has agreed to adjust the completion monies so the property effectively produces £20,000 p.a.x. from the completion of the sale. The lease provides a tenant option to determine on 24/10/2022 subject to 3 months' notice.

If you are the successful bidder Acuitus requires a separate payment of £500 plus VAT (£600 inclusive of VAT) buyer's administration charge payable to Acuitus Limited

Property Documents

  • Solicitors Legal Pack
    Updated Date
    20.11.19
    File Size
    19 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.19
    File Size
    512 KB
    View PDF
  • Site Plan
    Updated Date
    20.11.19
    File Size
    985 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 4th Floor, 64 North Row, Mayfair
London
W1K 7DA
Ebru Mehmet 020 3696 5652emehmet@brecher.co.uk

Useful Links

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