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
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.
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
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.
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.
