Modern office building providing 853.50 sq m (9,187 sq ft) accommodation
Established business park location, 2 miles from city centre
Nearby occupiers include Sunderland City Council, Konica Minolta Business Solutions and Manpower
Approximate site area of 0.4 hectares (1 acre) providing some 35 car parking spaces
Lot 23
Auction 11th December 2014
Rent £73,120 per Annum Exclusive
Status Withdrawn Post
Price
Sector Office
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
13 miles north-east of Durham 14 miles south-east of Newcastle
Roads
A1231, A19, A690, A1018, A1(M)
Rail
Sunderland Railway Station
Air
Newcastle International Airport
Situation
The property is situated within the established Sunderland Enterprise Park approximately 2 miles to the north-west of Sunderland City Centre. Nearby occupiers include Sunderland City Council, Konica Minolta Business Solutions and Manpower.
Tenure
Virtual Freehold. By way of a lease to be granted on completion. Held for a term of years until 19th January 3003 at a peppercorn rent.
Location
Miles
13 miles north-east of Durham 14 miles south-east of Newcastle
Roads
A1231, A19, A690, A1018, A1(M)
Rail
Sunderland Railway Station
Air
Newcastle International Airport
Situation
The property is situated within the established Sunderland Enterprise Park approximately 2 miles to the north-west of Sunderland City Centre. Nearby occupiers include Sunderland City Council, Konica Minolta Business Solutions and Manpower.
Tenure
Virtual Freehold. By way of a lease to be granted on completion. Held for a term of years until 19th January 3003 at a peppercorn rent.
Description
The property comprises a single storey office building currently arranged as two separate units. The property benefits from a site area of approximately 0.4 hectares (1 acre) providing some 35 car parking spaces
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a single storey office building currently arranged as two separate units. The property benefits from a site area of approximately 0.4 hectares (1 acre) providing some 35 car parking spaces
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
3a-c
Ground
Office
637.78 sq m
(6,865 sq ft)
INDIVIDUALS (t/a CDI Credit Management)
10 years from 11/11/2014 until 10/11/2024
£50,000
11/11/2019
3d
Ground
Office
215.72 sq m
(2,322 sq ft)
PHYSIOWORLD LTD (1)
5 years from 29/08/2014
£23,120 (2)
(28/08/2019)
Totals
853.50 sq m
(9,187 sq ft)
£73,120
(1)For the year ending 31st May 2013, Physioworld Limited reported a turnover of £11,000,903, pre-tax profits of £1,973,388 and a total net worth of £4,193,162. (Source: www.riskdisk.com 13/11/2014) (2)The current rent for Unit 3D is £18,496 p.a.x. increasing to £23,120 p.a.x. in 2017. The Seller has agreed to adjust the completion monies so that the unit effectively produces £23,120 p.a.x. from completion of the sale.
