Strong road connections via the A66, A19 and A1(M)
Occupiers within the Business Park include The NHS, AES Seal Plc and Northern Powergrid
Lot 22
Auction 28th October 2020
Rent £12,000 per Annum Exclusive
Status Sold
Price £151,000
Sector Restaurant
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 Railway Station
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 crche, dentist, Greggs 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 Railway Station
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 crche, dentist, Greggs and hairdresser.
Tenure
Virtual Freehold. Held for a term of 999 years from completion at a peppercorn rent.
Description
The property comprises a single storey restaurant/ caf with the benefit of use of shared car parking with other buildings on the estate.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
Band C. See legal pack.
Description
The property comprises a single storey restaurant/ caf with the benefit of use of shared car parking with other buildings on the estate.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
Band C. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground
Restaurant
136.00 sq m
(1,464 sq ft)
INDIVIDUALS t/a Buddy’s Cafe
6 years from 28/09/2020 on a full repairing and insuring lease
27/09/2026
01/06/2023 to RPI
Total
136.01 sq m
(1,464 sq ft)
£12,000
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.
