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

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

Fully Let High Yielding Office Investment

All suites entirely let, renewed or re-geared in 2020 & 2021
Tenants include Home Group, WCS Design & Build, Penny Petroleum, and Neon Palms (UK)
Common parts recently refurbished
Strong road connections via the A66, A19 and A1(M)
High Yielding on Guide Price

Lot
25
Auction
5th May 2021
Rent
£53,400 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

Important Update Interested?

Expand
Photos
Map

Fully Let High Yielding Office Investment

All suites entirely let, renewed or re-geared in 2020 & 2021
Tenants include Home Group, WCS Design & Build, Penny Petroleum, and Neon Palms (UK)
Common parts recently refurbished
Strong road connections via the A66, A19 and A1(M)
High Yielding on Guide Price

Lot 25
Auction 5th May 2021
Rent £53,400 per Annum Exclusive
Status Sold Prior
Price
Sector
Office
Auction Venue
Live Streamed Auction

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
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 Northern Powergrid, MyDentist, Jacksons Law Firm, Core Solicitors and Little Ladybirds Day Nursery.

Tenure

Virtual Freehold. Held for a term of 999 years from 5th December 2019 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
Air: Durham Tees Valley International Airport

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from 5th December 2019 at a peppercorn rent.

Description

The property comprises a purpose built, detached office building currently arranged to provide five office suites. The common parts have recently been refurbished and the property benefits from the use of shared car parking with other buildings on the estate.

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at www.acuitus.co.uk.

Description

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x
Ground Floor	Office	232.26 sq m	(2,500 sq ft)	HOME GROUP LIMITED (a housing association, social enterprise & charity)	5 years from 14/10/2020 (1)	£21,000
First	Office	42.74 sq m	(460 sq ft)	WCS DESIGN & BUILD LTD (a residential construction contractor)	3 years from 24/07/2020	£6,600 (4)
First	Office	63.64 sq m	(685 sq ft)	PENNY PETROLEUM (MANAGEMENT) LTD (a petrol forecourt operator)	3 years from 11/02/2021	£10,200 (4)
First	Office	56.02 sq m	(603 sq ft)	NEON PALMS (UK) LTD (a personalised gift company)	3 years from 16/02/2021 (2)	£9,000 (4)
First	Office	42.74 sq m	(460 sq ft)	KITCHEN PLUS LTD (a kitchen, bedroom and bathroom supplier)	3 years from 25/03/2021 (3)	£6,600 (4)
Total		437.40 sq m	(4,708 sq ft)			£53,400

(1) The lease is subject to a tenant option to determine on 14/10/2023.
(2) The lease is subject to a rolling tenant break option from 16/02/2022.
(3) The lease is subject to a rolling tenant break option from 25/03/2022.
(4) The rent payable on the first floor suites are inclusive of service charge, utilities and building insurance. Please see legal pack for full details.

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.