Crown Buildings Hartlepool County Durham TS24 8RZ

Crown Buildings
Hartlepool
County Durham
TS24 8RZ

Substantial Freehold Office Investment

Let to Let's Connect (Eng) Ltd (formerly known as Hartlepool Mind), The Big League CIC and Hartlepool Care Services Limited
Let's Connect (Eng) Ltd in occupation since 1999
Hartlepool Care Services let on a renewed lease, having been in occupation since 2016
Substantial building comprising approximately 948.44 sq m (10,209 sq ft)
Close to Hartlepool Civic Centre, Morrisons, Asda, Marks & Spencer, TK Maxx, Currys PC World and Hartlepool United FC Ground
VAT-free investment

Lot
29
Auction
4th November 2021
Rent
£52,350 per Annum Exclusive
Status
Sold
Price
£430,000
Auction Venue
Live Streamed Auction

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Substantial Freehold Office Investment

Let to Let's Connect (Eng) Ltd (formerly known as Hartlepool Mind), The Big League CIC and Hartlepool Care Services Limited
Let's Connect (Eng) Ltd in occupation since 1999
Hartlepool Care Services let on a renewed lease, having been in occupation since 2016
Substantial building comprising approximately 948.44 sq m (10,209 sq ft)
Close to Hartlepool Civic Centre, Morrisons, Asda, Marks & Spencer, TK Maxx, Currys PC World and Hartlepool United FC Ground
VAT-free investment

Lot 29
Auction 4th November 2021
Rent £52,350 per Annum Exclusive
Status Sold
Price £430,000
Sector
Office
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 17 miles south-east of Durham; 20 miles north-east of Darlington; 28 miles south-east of Newcastle
Roads: A689, A1(M), A66(M)
Rail: Hartlepool
Air: Durham Airport

Situation

Hartlepool is a port town and administrative centre of County Durham, approximately 17 miles south-east of Durham and 20 miles north-east of Darlington. The Crown Buildings occupy a prominent position less than half a mile east of Hartlepool Train Station with frontages to Raby Road, Avenue Road and Tees Street. The property is in a mixed-used location, with nearby occupiers including Morrisons Supermarket and fuel station, Hartlepool Civic Centre, Asda, Marks & Spencer, TK Maxx, Currys PC World and Hartlepool United FC Ground.

Tenure

Freehold.

Location

Miles: 17 miles south-east of Durham; 20 miles north-east of Darlington; 28 miles south-east of Newcastle
Roads: A689, A1(M), A66(M)
Rail: Hartlepool
Air: Durham Airport

Situation

Tenure

Freehold.

Description

The property comprises five units currently arranged as three self-contained offices at ground floor level.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Various. See legal pack at www.acuitus.co.uk.

Description

The property comprises five units currently arranged as three self-contained offices at ground floor level.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Various. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Units 1 & 4	Ground	Mental Health Services	447.23 sq m	(4,814 sq ft)	LET'S CONNECT (ENG) LIMITED (Formerly known as Hartlepool Mind) (1)	A term of years from 07/09/2015 until 30/09/2024	£28,850	01/10/2020 (outstanding) 30/09/2024
Units 2 & 3	Ground	Office/Ancillary	330.27 sq m	(3,555 sq ft)	THE BIG LEAGUE CIC (2)	7 years less 1 day from 04/12/2020 (3)	£13,500	04/12/2025
Unit 5	Ground	Office/Ancillary	170.94 sq m	(1,840 sq ft)	HARTLEPOOL CARE SERVICES LIMITED (4)	3 years from 05/10/2019	£10,000	-
Total			948.44 sq m	(10,209 sq ft)			£52,350

(1) Previously known as Hartlepool Mind who provide support to individuals and communities in mental health and wellbeing (www.hartlepoolmind.co.uk).
(2) The Big League CIC aim to provide support to those that need it through aid and training provision (www.thebigleaguecic.org).
(3) Under the terms of the lease, there is a tenant option to determine in December 2023 and December 2025, as well as a landlord option to determine in December 2025. The lease is drawn up outside of the Security of Tenure provisions of the Landlord and tenant 1954 Act.
(4) Hartlepool Care Services Limited is a domiciliary care agency and is known locally as Carewatch. It provides personal care to adults living in their own houses and flats in the community (source: www.cqc.co.uk).

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.