Approximate site area of 0.84 hectares (2.08 acres)
Well located off the A19 on established industrial estate
Producing £175,000 (gross)
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 18
Auction 11th February 2016
Rent Gross: £175,000 per Annum Exclusive
Status Sold
Price £1,410,000
Sector Industrial, Warehouse
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Insolvency Practitioners Deloitte
Property Information
Location
Miles
4 miles south of Sunderland, 11 miles north-east of Durham, 16 miles south-east of Newcastle upon Tyne, 23 miles north of Middlesbrough
Roads
A19, A690, A1018, A1(M)
Rail
Seaham Railway Station
Air
Newcastle International Airport
Situation
The property is located on Seaham Grange Industrial Estate an established industrial area strategically located off the A19, which provides direct access to Newcastle and Sunderland to the north and Middlesbrough to the south. The property is situated on the west side of Hall Dene Way, the principal road through the estate with nearby occupiers including Metso, GBA, Mission Foods, PTS, Homefair Blinds, IPS and Bizspace.
Tenure
Leasehold. Held from The County Council of Durham for a term of 125 years (less three days) from 22nd December 1995 expiring 21st December 2120 at a fixed rent of £250 per annum.
Location
Miles
4 miles south of Sunderland, 11 miles north-east of Durham, 16 miles south-east of Newcastle upon Tyne, 23 miles north of Middlesbrough
Roads
A19, A690, A1018, A1(M)
Rail
Seaham Railway Station
Air
Newcastle International Airport
Situation
The property is located on Seaham Grange Industrial Estate an established industrial area strategically located off the A19, which provides direct access to Newcastle and Sunderland to the north and Middlesbrough to the south. The property is situated on the west side of Hall Dene Way, the principal road through the estate with nearby occupiers including Metso, GBA, Mission Foods, PTS, Homefair Blinds, IPS and Bizspace.
Tenure
Leasehold. Held from The County Council of Durham for a term of 125 years (less three days) from 22nd December 1995 expiring 21st December 2120 at a fixed rent of £250 per annum.
Description
The property, constructed in 1998, comprises a substantial ground floor warehouse with office and ancillary accommodation on the first floor. There is a mezzanine floor providing additional storage which is understood to be a tenants improvement. The property benefits from an approximate eaves height of 6.20 metres (20 ft), four vehicle roller shutter doors and extensive car parking.
Six week completion
Subject to superior landlord’s consent to assign leasehold interest.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
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, constructed in 1998, comprises a substantial ground floor warehouse with office and ancillary accommodation on the first floor. There is a mezzanine floor providing additional storage which is understood to be a tenants improvement. The property benefits from an approximate eaves height of 6.20 metres (20 ft), four vehicle roller shutter doors and extensive car parking.
Six week completion
Subject to superior landlord’s consent to assign leasehold interest.
Note
This property is being marketed for sale on behalf of Insolvency Practitioners and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Insolvency Practitioners are acting without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First
Warehouse Office/Ancillary
4,168.76 sq m 440.96 sq m
(44,873 sq ft) (4,747 sq ft)
JACQUES VERT GROUP LIMITED (1)
5 years from 01/10/2015 on a full repairing and insuring lease (2)
£175,000
30/09/2020
Totals
4,609.72 sq m
(49,620 sq ft)
£175,000
(1) Established in 1977, Jacques Vert Group is a concessions based business trading in 470 stores throughout the UK, Europe and North America, including Debenhams, John Lewis, House of Fraser, Independent Department Stores (AIS), as well some standalone brand stores in the UK. Jacques Vert Group has become one of the leading British Fashion Houses and the UK’s largest womenswear concession retailer with a strong online presence across all of its brands. (www.jacquesvertgroup.com) (2) The lease provides for a tenant option to determine on 1st October 2018 subject to six months’ notice.
