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

Multi-Let Office Investment

  • Multi-let office investment located within established estate
  • Tenants include Tees Valley Community Foundations
  • Strong road connections via the A66, A19 and A1(M)
  • Asset management potential
  • Lot
    18
  • Auction
    11/Dec/2019
  • Rent
    £31,275 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
  • Wallace House<br>Falcon Court<br>Stockton-on-Tees<br>TS18 3TS
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  • 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

The property comprises a purpose built, detached office building currently arranged to provide 4 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.

Tenure

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

Description

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.

VAT

VAT is applicable to this lot.

EPC

Band C. Available in legal pack.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x.
GroundOffice
133.04 sq m
(1,432 sq ft)
ABERMED LIMITED
t/a Iqarus (1)
6 years from 04/07/2018 (2)£19,275
GroundOffice
102.01 sq m
(1,098 sq ft)
VACANT (3)  
FirstOffice
133.04 sq m
(1,432 sq ft)
TEES VALLEY
COMMUNITY
FOUNDATION (4)
10 years from 19/07/2010£12,000
FirstOffice
102.01 sq m
(1,098 sq ft)

VACANT
  
Total 
470.10 sq m
(5,060 sq ft)
  £31,275

(1) Iqarus operates across the medical spectrum from primary care and occupational health, to advanced pre-hospital trauma care, through to full scale laboratory, radiological, diagnostic and surgical capabilities (Source: www.iqarus.com/en/about-us 08/11/2019).
(2) The lease provides an annual option to determine on 04/07/2020, subject to 3 months' notice.
(3) Abermed Limited has expressed interest in taking additional space.
(4) Tees Valley Community Foundation is a charity with the prime objective of improving the quality of life of the people of the Tees Valley by gathering and distributing resources given to them by local donors for the benefit of the people (Source: teesvalleyfoundation.org).

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
    16 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.19
    File Size
    492 KB
    View PDF
  • Site Plan
    Updated Date
    20.11.19
    File Size
    924 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

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