Britannia House, Falcon Court Preston Farm Business Park Stockton on Tees TS18 3TX

Britannia House, Falcon Court
Preston Farm Business Park
Stockton on Tees
TS18 3TX

Multi-Let Office Investment

Multi-let office investment located within established estate
Tenants include BioConstruct and Integrated Electronic Security
Strong road connections via the A66, A19 and A1(M)
Asset management potential

Lot
12
Auction
21st May 2020
Rent
£33,050 per Annum Exclusive
Status
Sold
Price
£200,000
Auction Venue
Live Streamed Auction
On Behalf of Administrators at Moorfields

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Multi-Let Office Investment

Multi-let office investment located within established estate
Tenants include BioConstruct and Integrated Electronic Security
Strong road connections via the A66, A19 and A1(M)
Asset management potential

Lot 12
Auction 21st May 2020
Rent £33,050 per Annum Exclusive
Status Sold
Price £200,000
Sector
Office
Auction Venue
Live Streamed Auction
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 made up of 36 office pavillions and 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 crèche, dentist, Greggs, café and hairdresser.

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 4 office suites. The office accommodation 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.

Completion Period

Six Week Completion

EPC

Available at acuitus.co.uk

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Available at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground	Office	133.13 sq m	(1,433 sq ft)	BIOCONSTRUCT NEWENERGY LIMITED (1)	3 years from 01/09/2018	£12,000 (2)	31/08/2021
Ground	Office	101.91 sq m	(1,097 sq ft)	INTEGRATED ELECTRONIC SECURITY LIMITED (3)	5 years from 01/09/2008	£13,250	Holding Over
First	Office	133.13 sq m	(1,433 sq ft)	VACANT POSSESSION
First	Office	101.91 sq m	(1,097 sq ft)	AZTEC CLOTHING LIMITED	3 years from 01/03/2020 (4)	£7,800	28/02/2023
Total		470.08 sq m	(5,060 sq ft)			£33,050

(1) BioConstruct was formed in Germany in 2000 to become a leader in the construction and operation of anaerobic digestion
(AD or biogas) plants (Source: www.b-ne.uk 26/02/2020).
(2) The rent payable by BioConstruct NewEnergy Limited is inclusive of service charge and insurance rent.
(3) IES Security have over 50 years' combined experience in providing high security solutions to many different business sectors
(Source: www.iessecurity.co.uk/ 26/02/2020).
(4) The lease provides a tenant option to determine on 01/03/2022, subject to 3 months' notice. After 01/03/2022, the tenant has a rolling option to determine subject to 1 month's 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.