Modern office building on established industrial park
Majority let to Whitecross Dental Care Limited t/a My Dentist
Strong road connections via the A66, A19 and A1(M)
Occupiers within the business park include The NHS, AES Seal Plc and Home Group Limited
Lot 29
Auction 11th July 2019
Rent £30,375 per Annum Exclusive
Status Sold
Price £339,000
Sector Office
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
On behalf of Administrators at Moorfields
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 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, Home Group Limited and Northern Powergrid. Falcon Court also benefits from a creche and Greggs.
Tenure
Freehold.
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 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, Home Group Limited and Northern Powergrid. Falcon Court also benefits from a creche and Greggs.
Tenure
Freehold.
Description
The property comprises a detached two storey building providing office accommodation over ground and first floors. The property benefits from rights to parking.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
Band C. See legal pack at www.acuitus.co.uk
Description
The property comprises a detached two storey building providing office accommodation over ground and first floors. The property benefits from rights to parking.
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
Band C. See legal pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/ (Reversion)
Ground
Office
133.96 sq m
(1,442 sq ft)
ADULT PLACEMENT SERVICES LIMITED t/a Avalon
5 years from 25/08/2016
£7,500
(24/08/2021)
Ground
Office
102.37 sq m
(1,102 sq ft)
VACANT (1)
First
Office
165.46 sq m
(1,781 sq ft)
WHITECROSS DENTAL CARE LIMITED (1) t/a My Dentist
15 years from 29/02/2016 (2)
£18,375
01/03/2021 and 01/03/2025 (28/02/2031)
First
Office
69.68 sq m
(750 sq ft)
WHITECROSS DENTAL CARE LIMITED (1) t/a My Dentist
15 years from 29/02/2016 (3)
£4,500
29/02/2021 and 29/02/2026 (28/02/2031)
Totals
471.47 sq m
(5,075 sq ft)
£30,375
(1) The Whitecross Dental Care Limited has expressed an interest in expanding into the ground floor vacant suite. Whitecross Dental Care functions through mydentist, which operates a network of 600+ NHS funded and private pay dental practices across the UK (Source: mydentist.co.uk 13/06/2019). (2) The lease provides for a tenant only option to determine on 01/03/2026 with 6 months notice. (3) The lease provides for a tenant only option to determine on 29/02/2026 with 6 months notice.
