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

Fully Let High Yielding Office Investment

  • All suites entirely let, renewed or re-geared in 2020 & 2021
  • Tenants include Home Group, WCS Design & Build, Penny Petroleum, and Neon Palms (UK)
  • Common parts recently refurbished
  • Strong road connections via the A66, A19 and A1(M)
  • High Yielding on Guide Price
  • Lot
    25
  • Auction
    05/May/2021
  • Rent
    £53,400 per Annum Exclusive
  • Status
    Sold Prior
  • Price*
     
  • Sector
    Office
  • Auction Venue
    Live Streamed Auction
Important 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
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 Northern Powergrid, MyDentist, Jacksons Law Firm, Core Solicitors and Little Ladybirds Day Nursery.

Tenure

Virtual Freehold. Held for a term of 999 years from 5th December 2019 at a peppercorn rent.

Description

The property comprises a purpose built, detached office building currently arranged to provide five office suites. The common parts have recently been refurbished and the property benefits from the use of shared car parking with other buildings on the estate.

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x
Ground FloorOffice
232.26 sq m
(2,500 sq ft)
HOME GROUP LIMITED
(a housing association, social
enterprise & charity)
5 years from
14/10/2020 (1)
£21,000
FirstOffice
42.74 sq m
(460 sq ft)
WCS DESIGN & BUILD LTD
(a residential construction
contractor)
3 years from
24/07/2020
£6,600 (4)
FirstOffice
63.64 sq m
(685 sq ft)
PENNY PETROLEUM
(MANAGEMENT) LTD (a petrol
forecourt operator)
3 years from
11/02/2021
£10,200 (4)
FirstOffice
56.02 sq m
(603 sq ft)
NEON PALMS (UK) LTD (a
personalised gift company)
3 years from
16/02/2021 (2)
£9,000 (4)
FirstOffice
42.74 sq m
(460 sq ft)
KITCHEN PLUS LTD (a kitchen, bedroom and bathroom supplier)3 years from
25/03/2021 (3)
£6,600 (4)
Total
437.40 sq m
(4,708 sq ft)   £53,400

(1) The lease is subject to a tenant option to determine on 14/10/2023.
(2) The lease is subject to a rolling tenant break option from 16/02/2022.
(3) The lease is subject to a rolling tenant break option from 25/03/2022.
(4) The rent payable on the first floor suites are inclusive of service charge, utilities and building insurance. Please see legal pack for full details.

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
    16.04.21
    File Size
    70 MB
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  • Catalogue Page
    Updated Date
    16.04.21
    File Size
    497 KB
    View PDF
  • Site Plan
    Updated Date
    16.04.21
    File Size
    476 KB
    View PDF
  • Common Auction conditions
    Updated Date
    16.03.21
    File Size
    687 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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Associate Auctioneers
Naylors Gavin Black LLP Fourth Floor Hadrian House, Second, Higham Pl,
Newcastle upon Tyne
Tyne and Wear
NE1 8AF
0191 261 4030
Fergus Laird 07768 063109fergus@naylorsgavinblack.co.uk
Seller's Solicitors
Simons Muirhead & Burton 87 - 91 Newman Street, Fitzrovia
London
W1T 3EY
Mark Levine 0203 206 2793mark.levine@smab.co.uk

Useful Links

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