Falcon Court
Stockton-on-Tees
TS18 3TX

Freehold Ground Rents together with surrounding site areas

  • Substantial Business park management opportunity
  • Strong road connections via the A66, A19 and A1(M)
  • Located on the established and popular Preston Farm Business Park
  • Comprises the freehold interest of 34 buildings together with extensive landscaping, access roads and shared car parking areas
  • Lot
    21
  • Auction
    10/Dec/2020
  • Rent
    £400 per Annum Exclusive
  • Status
    Available
  • Price*
    £20,000 - £25,000
  • Sector
    Ground Rent
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Administrators at Moorfields
  • Falcon Court<br>Stockton-on-Tees<br>TS18 3TX
  • 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 Railway Station
Air
Durham Tees Valley International Airport
Situation

Falcon Court is made up of 36 office pavillions and 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, dentist, Greggs and hairdresser.

Tenure

Freehold.

Description

The property is the residual freehold interest of Falcon Court Business Park comprising some 34 buildings, providing mainly office accommodation together with some retail, restaurant and healthcare facilities. In addition to the buildings, which provide accommodation in excess of 200,000 sq ft, there are communal parking areas, providing parking for in excess of 900 cars, estate roads and landscaped areas all within the demise. There are an additional two office buildings on Falcon Court, the freeholds of which have been sold off. The footprints of the 34 buildings are underlet on leases which were originally granted for terms of 125, 250 and 999 years at nominal rents and currently produce a total ground rent across all the buildings of £400 per annum exclusive.

Within this sale, the communal car parking areas, access roadways and landscaping surrounding the buildings are included. The tenants of the various buildings have the right to use these additional areas and in return, the tenants pay an estate service charge for the freeholder to manage and maintain.

In addition there are two buildings on the estate which have been sold off on a freehold basis although the purchasers of these buildings still contribute towards the estate service charge.

There may be opportunities to develop further areas of the estate (subject to consents), to re-gear existing head leases and to benefit from changes of use not currently permitted by the current head leases.

Full title plans and a tenancy schedule are available to download from the legal pack.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    27.11.20
    File Size
    264 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.20
    File Size
    559 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Brecher LLP
Lucinda Lymer 020 3848 4355llymer@brecher.co.uk

Useful Links

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