Bede & Cuthbert House Tower Road Washington Tyne and Wear NE37 2SH

Bede & Cuthbert House
Tower Road
Washington
Tyne and Wear
NE37 2SH

Freehold Office Investment

Eight self-contained office units totalling approximately 1,384 sq m (14,904 sq ft)
Prominent corner position fronting A1290 and A195
Tenants include Barnardos, Panda Sourcing Ltd and SSE Services plc
Nearby occupiers include Kwik Fit, Arc Car Washing and National Tyres and Autocentre
On-site car parking
Six Week Completion Period Available

Lot
6
Auction
14th February 2013
Rent
£79,310 per Annum Exclusive
Status
Sold
Price
£450,000
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Joint Fixed Charge Receivers, Deloitte Real Estate

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Freehold Office Investment

Eight self-contained office units totalling approximately 1,384 sq m (14,904 sq ft)
Prominent corner position fronting A1290 and A195
Tenants include Barnardos, Panda Sourcing Ltd and SSE Services plc
Nearby occupiers include Kwik Fit, Arc Car Washing and National Tyres and Autocentre
On-site car parking
Six Week Completion Period Available

Lot 6
Auction 14th February 2013
Rent £79,310 per Annum Exclusive
Status Sold
Price £450,000
Sector
Office
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Behalf of Joint Fixed Charge Receivers, Deloitte Real Estate

Property Information

Location

Miles: 7 miles west of Sunderland, 7.5 miles south-east of Newcastle upon Tyne
Roads: A1 (M), A19, A194 (M), A195, A1231, A1290
Air: Newcastle International Airport

Situation

The property is situated in a prominent corner position fronting Tower Road and both the A1290 and A195, some 7.5 miles south of Newcastle upon Tyne. The property benefits from excellent communication links being within easy access of the A1231 Sunderland Highway, A19, A194 (M) and A1 (M). Nearby occupiers include Kwik Fit, Arc Car Washing and National Tyres and Autocentre.

Tenure

Freehold.

Location

Miles: 7 miles west of Sunderland, 7.5 miles south-east of Newcastle upon Tyne
Roads: A1 (M), A19, A194 (M), A195, A1231, A1290
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property comprises two single storey office buildings, each providing four self-contained office units. The property also benefits from on site car parking.

Note
This property is being marketed for sale on behalf of Joint Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including but not limited to VAT, can be given. The information in these particulars has been provided by the Joint Fixed Charge Receivers based on the information available to them, but the purchaser must rely solely upon their own enquiries. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

House	Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversions
Cuthbert House	1	Ground	Office	173 sq m	(1,863 sq ft)	ZOOM CCTV (NORTH EAST) LTD (1)	5 years from 21/10/2010	£18,910	20/10/2015
	2	Ground	Office	173 sq m	(1,863 sq ft)	PANDA SOURCING LTD	5 years from 09/09/2012	£15,000 (2)	08/09/2017
	3	Ground	Office	173 sq m	(1,863 sq ft)	BARNARDOS (3)	5 years from 27/02/2012 (4)	£14,000	26/02/2017
	4	Ground	Office	173 sq m	(1,863 sq ft)	VACANT
Bede House	5	Ground	Office	173 sq m	(1,863 sq ft)	VACANT
	6	Ground	Office	173 sq m	(1,863 sq ft)	BTCV ENTERPRISES LTD (5)	3 years from 01/04/2012	£15,000	31/03/2015
	7	Ground	Office	173 sq m	(1,863 sq ft)	VACANT
	8	Ground	Office	173 sq m	(1,863 sq ft)	SSE SERVICES PLC (6)	5 years from 24/12/2011	£16,400	23/12/2016
Totals				1,384 sq m	(14,904 sq ft)			£79,310

(1) Zoom CCTV was acquired in 2006 by VtecZoom who have 25 years experience installing and servicing CCTV throughout the UK (Source: www.zoomcctv.com 21/03/2013)
(2) For the purposes of clarification, Panda Sourcing Ltd are currently benefiting from a rent free period due to expire on 9th September 2013. The Seller has agreed to adjust the completion monies so that the unit will effectively produce £15,000 p.a.x. from completion.
(3) Barnardo’s is the UK’s leading children’s’ charity helping more than 200,000 children, young people and their families every year. (Source: www.barnardos.org.uk 21/03/2013.
(4) The lease provides an option to determine on the first anniversary of the term,and annually thereafter, subject to 3 months’ notice.
(5) Founded in 1959 The Conservation Volunteers (the trading name of BTCV Enterprises Ltd) help hundreds of thousands of people each year to reclaim local green places (Source: www.tcv.org.uk 21/01/2013)
(6) SSE is a leading electricity and gas company, operating mainly in the UK and Ireland. (Source: www.sse.com 21/01/2013)