Let to Education Development Trust (Registered Charity)
Comprises a Large Open Plan Office Space
Located on the well established Team Valley Trading Estate
Full Repairing and Insuring Lease
Neighbouring Occupiers include Dulux Decorator Centre, UPS, Enterprise House, 5th Avenue Business Park, and Sports Direct
Guide Price at an Attractive 56% Gross Yield
Lot 43
Auction 15th May 2025
Rent £28,000 per Annum Exclusive
Status Available
Guide* £50,000 - £60,000
Sector Office
Auction Venue Live Streamed Auction
Property Information
Location
Miles
2 miles south of Newcastle City Centre, 15 miles north of Durham
Roads
A1, A692, B1426
Rail
Percy Main Metro, Newcastle Rail
Air
Newcastle International Airport
Situation
Kingfisher House is situated on the east side of Kingsway North at its junction with Fourth Avenue in the well established Office and Industrial location in Team Valley Trading Estate.
Kingsway North is the Principle Avenue that bisects North to South, the busy and well established Team Valley Trading Estate which benefits from being immediately adjacent to the A1, Great North Road.
Tenure
Long Leasehold. Held for a term of 125 years from 31st March 1989 until 2114 at a fixed peppercorn rent.
Location
Miles
2 miles south of Newcastle City Centre, 15 miles north of Durham
Roads
A1, A692, B1426
Rail
Percy Main Metro, Newcastle Rail
Air
Newcastle International Airport
Situation
Kingfisher House is situated on the east side of Kingsway North at its junction with Fourth Avenue in the well established Office and Industrial location in Team Valley Trading Estate.
Kingsway North is the Principle Avenue that bisects North to South, the busy and well established Team Valley Trading Estate which benefits from being immediately adjacent to the A1, Great North Road.
Tenure
Long Leasehold. Held for a term of 125 years from 31st March 1989 until 2114 at a fixed peppercorn rent.
Description
The property comprises an attractive first floor office suite within a multi-occupied office development.
The property is registered under Title Number TY25093 and is accessed via a communal reception area.
VAT
VAT is not applicable to this lot.
Note
An interest declared pursuant to s21. of The Estate Agents Act 1979.
EPC
Band C
Description
The property comprises an attractive first floor office suite within a multi-occupied office development.
The property is registered under Title Number TY25093 and is accessed via a communal reception area.
VAT
VAT is not applicable to this lot.
Note
An interest declared pursuant to s21. of The Estate Agents Act 1979.
EPC
Band C
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
First
Offfice
374.60 (1)
(4,032) (1)
EDUCATION DEVELOPMENT TRUST (CRN: 00867944) (2)
3 years from 29/09/2023 until 28/09/2028
£28,000
(1) The floor areas stated are those published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/valuations/start/2098678000 (2) The Tenant has occupied the property since at least March 2017. Education Development Trust (CRN: 00867944) are a charity registered under Charity Number 27091 and practice to improve Education System around the world, see edt.org. For the year ended 31st August 2024, Education Development Trust reported an income of £80,388,000 and Total Funds of £24, 283, 000., (Source: Annual Report 2023/2024 as Published at Companies House on the 23rd April 20245).
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.
