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

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

Multi-Let Office Investment

Multi-let office investment located within established estate
Part let to Accent House Limited
Strong road connections via the A66, A19 and A1(M)
Asset management potential

Lot
11
Auction
11th December 2019
Rent
£20,000 per Annum Exclusive
Status
Sold
Price
£235,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of Administrators at Moorfields

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Multi-Let Office Investment

Multi-let office investment located within established estate
Part let to Accent House Limited
Strong road connections via the A66, A19 and A1(M)
Asset management potential

Lot 11
Auction 11th December 2019
Rent £20,000 per Annum Exclusive
Status Sold
Price £235,000
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 Rail
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 and Northern Powergrid. Falcon Court also benefits from a creche and dentist.

Tenure

Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent.

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 Rail
Air: Durham Tees Valley International Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent.

Description

The property comprises a purpose built, detached office building currently arranged to provide two office suites. The office accommodation has recently been refurbished and benefits from category II lighting and 2.8m floor to ceiling height. The property benefits from the use of shared car parking with other buildings on the estate.

VAT

VAT is applicable to this lot.

EPC

Band C. Available in legal pack at acuitus.co.uk.

Description

VAT

VAT is applicable to this lot.

EPC

Band C. Available in legal pack at acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground	Office	237.00 sq m	(2,551 sq ft)	ACCENT HOUSING LIMITED (1)	6 years from 24/10/2019 until 23/10/2025 (2)	£20,000	24/10/2022
First	Office	237.00 sq m	(2,551 sq ft)	VACANT
Total		474.00 sq m	(5,102 sq ft)			£20,000

(1) Accent is a housing association established in 1966 that provides homes and services for a diverse range of customers. The 20,000+ homes, which are spread over the North, East and South of the country, are home to over 35,000 people (Source: https://www.accentgroup.org 08/11/2019).
(2) The tenant is currently benefiting from a rent free period due to expire on 24/01/2020. The seller has agreed to adjust the completion monies so the property effectively produces £20,000 p.a.x. from the completion of the sale. The lease provides a tenant option to determine on 24/10/2022 subject to 3 months' notice.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.