Rainton Meadows Arena Mercantile Road, West Rainton Near Houghton Le Spring County Durham DH4 5PH

  • Rainton Meadows Arena<br>Mercantile Road, West Rainton<br>Near Houghton Le Spring<br>County Durham<br>DH4 5PH

Rainton Meadows Arena
Mercantile Road, West Rainton
Near Houghton Le Spring
County Durham
DH4 5PH

Freehold Industrial/Events Venue Investment

  • Popular regional Entertainment Venue let until 2034 (subject to option)
  • Comprises approximately 2,522.8 sq m (27,155 sq ft) of leisure accommodation
  • Large site approximately 2.16 hectares (5.30 acres)
  • Low site coverage of approximately 12%
  • Good access routes being close to A690
  • Includes Car Parking for approximately 450 cars
  • Lot
    36
  • Auction
    5th May 2021
  • Rent
    £150,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,725,000
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Receivers A B Hughes and J P Smith
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Freehold Industrial/Events Venue Investment

  • Popular regional Entertainment Venue let until 2034 (subject to option)
  • Comprises approximately 2,522.8 sq m (27,155 sq ft) of leisure accommodation
  • Large site approximately 2.16 hectares (5.30 acres)
  • Low site coverage of approximately 12%
  • Good access routes being close to A690
  • Includes Car Parking for approximately 450 cars
  • Lot 36
  • Auction 5th May 2021
  • Rent £150,000 per Annum Exclusive
  • Status Sold
  • Price £1,725,000
  • Sector
    Leisure
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Receivers A B Hughes and J P Smith

Property Information

Location
Miles
1 mile south of Houghton le Spring
9 miles north-east of Durham
Roads
A690, A1(M)
Air
Newcastle Airport
Situation

Houghton le Spring is located approximately 9 miles north-east of Durham. The property is situated approximately 1 mile of the town in a prominent location just west of the A690 dual carriageway, which in turn provides access to J62 of the A1(M). The property is in a predominately industrial location with nearby occupiers including TNT, KASL Precision Engineering and TRW Systems. Rainton Bridge Business Park is also located nearby,

Tenure

Freehold.

Location
Miles
1 mile south of Houghton le Spring
9 miles north-east of Durham
Roads
A690, A1(M)
Air
Newcastle Airport
Situation

Houghton le Spring is located approximately 9 miles north-east of Durham. The property is situated approximately 1 mile of the town in a prominent location just west of the A690 dual carriageway, which in turn provides access to J62 of the A1(M). The property is in a predominately industrial location with nearby occupiers including TNT, KASL Precision Engineering and TRW Systems. Rainton Bridge Business Park is also located nearby,

Tenure

Freehold.

Description

The property comprises a steel portal framed industrial unit with an eaves height of approximately 5 metres, currently used as a function suite and venue. The property benefits from a mezzanine level and three pavilions with further seating/conference space . The site area is approximately 2.16 hectares (5.30 acres), with a low site coverage of approximately 12%. The property benefits from parking for approximately 450 cars.

Note

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

See legal pack.

Description

The property comprises a steel portal framed industrial unit with an eaves height of approximately 5 metres, currently used as a function suite and venue. The property benefits from a mezzanine level and three pavilions with further seating/conference space . The site area is approximately 2.16 hectares (5.30 acres), with a low site coverage of approximately 12%. The property benefits from parking for approximately 450 cars.

Note

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
(Approx)		 Tenant Term Rent p.a.x (Reversions)
Ground
Mezzanine
Pavillions		 Industrial /
Events
Conference
1,665.14 sq m
557.66 sq m
300.00 sq m
(17,924 sq ft)
(6,002 sq ft)
(3,229 sq ft)
 RAINTON
ARENA
LIMITED		 15 years from
16/09/2019 on a full
repairing and
insuring lease (1)		 £150,000 (2) (15/09/2034)
Totals
2,522.8 sq m
(27,155 sq ft)
     £150,000  

(1) The lease provides for a tenant option to determine the lease on 16th September 2024 and 2029.

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.

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
TLT LLP One Redcliff Street
Bristol
BS1 6TP
Philip Collis 0333 006 0285philip.collis@tltsolicitors.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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