Geneva House 3 Park Road & Land at 15 Church Walk Peterborough PE1 2UX

Geneva House
3 Park Road & Land at 15 Church Walk
Peterborough
PE1 2UX

Freehold Modern Office Investment

Substantial multi-let modern office building
City centre location
May be suitable for residential/hotel redevelopment (subject to consents)
Nearby occupiers include John Lewis, Marks & Spencer, Tesco Metro and Anglia Co-Operative’s Westgate Department Store

Lot
10
Auction
10th July 2012
Rent
£60,994 per Annum Exclusive
Status
Sold
Price
£505,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of M Cowlishaw and D Langton of Deloitte LLP acting as Joint Administrators of Tiger Estates LLP (in administration)

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Freehold Modern Office Investment

Substantial multi-let modern office building
City centre location
May be suitable for residential/hotel redevelopment (subject to consents)
Nearby occupiers include John Lewis, Marks & Spencer, Tesco Metro and Anglia Co-Operative’s Westgate Department Store

Lot 10
Auction 10th July 2012
Rent £60,994 per Annum Exclusive
Status Sold
Price £505,000
Sector
Office
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP
On behalf of M Cowlishaw and D Langton of Deloitte LLP acting as Joint Administrators of Tiger Estates LLP (in administration)

Property Information

Location

Miles: 37 miles north of Cambridge 42 miles east of Leicester
Roads: A1(M), A15, A47
Rail: Peterborough
Air: London Heathrow Airport, London Stansted Airport

Situation

The property is situated in the heart of the city centre on the west side of Park Road, close to its junction with Westgate with nearby occupiers including John Lewis, Marks & Spencer, Tesco Metro and Anglia Co-Operatives Westgate Department Store.

Tenure

Freehold.

Location

Miles: 37 miles north of Cambridge 42 miles east of Leicester
Roads: A1(M), A15, A47
Rail: Peterborough
Air: London Heathrow Airport, London Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial modern office building providing high quality office accommodation on ground and four upper floors. The property benefits from an 8-person lift. The property benefits from 15 spaces in a secure undercroft car park and a further 23 car parking spaces upon the land at 15 Church Walk.

Note
This property is being marketed for sale on behalf of Joint Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The Joint Administrators are not bound to accept the highest or any offer and are acting without personal liability.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/(Reversion)
Ground	Shop/Office	105.35 sq m	(1,134 sq ft)	VACANT POSSESSION
First	Office	358.60 sq m	(3,860 sq ft)	SEETEC BUSINESS TECHNOLOGY CENTRE LTD (1)	5 years from 22/04/2009	£40,723	2012 (2)
Second	Office	350.15 sq m	(3,769 sq ft)	VACANT POSSESSION
Third/Front	Office	47.32 sq m	(509 sq ft)	DIAMOND RESOURCING PLC (3)	5 years from 23/05/2008	£5,000	(2013)
Third/Front	Office	94.85 sq m	(1,021 sq ft)	TECHNOLOGIES 4TARGETING LTD	5 years from 04/02/2010 (2)	£10,771.55	(03/02/2015)
Third/Rear	Office	204.29 sq m	(2,199 sq ft)	VACANT POSSESSION		£600 (6)
Fourth	Office	313.46 sq m	(3,374 sq ft)	VACANT POSSESSION		£33,000
Church Walk	4 Parking Spaces			D SAYEGH & PARTNERS		£3,000
Church Walk	4 Parking Spaces			STEPHENSON SMART		£1,500
Church Walk	4 Parking Spaces			VACANT POSSESSION
Totals		1,474.02 sq m	(15,866 sq ft)			£60,994.55
SEETEC BUSINESS TECHNOLOGY CENTRE LTD (1)	5 years from 22/04/2009	£40,723	2012 (2)	Second	Office	350.15 sq m	(3,769 sq ft)	VACANT POSSESSION	Third/Front	Office	47.32 sq m	(509 sq ft)	DIAMOND RESOURCING PLC (3)	5 years from 23/05/2008	£5,000	(2013)	Third/Front	Office	94.85 sq m	(1,021 sq ft)	TECHNOLOGIES 4TARGETING LTD	5 years from 04/02/2010 (2)	£10,771.55	(03/02/2015)	Third/Rear	Office	204.29 sq m	(2,199 sq ft)	VACANT POSSESSION	£600 (6)	Fourth	Office	313.46 sq m	(3,374 sq ft)	VACANT POSSESSION	£33,000	Church Walk	4 Parking Spaces	D SAYEGH & PARTNERS	£3,000	Church Walk	4 Parking Spaces	STEPHENSON SMART	£1,500	Church Walk	4 Parking Spaces	VACANT POSSESSION	Totals	1,474.02 sq m	(15,866 sq ft)	£60,994.55
Second	Office	350.15 sq m	(3,769 sq ft)	VACANT POSSESSION
Third/Front	Office	47.32 sq m	(509 sq ft)	DIAMOND RESOURCING PLC (3)	5 years from 23/05/2008	£5,000	(2013)
Third/Front	Office	94.85 sq m	(1,021 sq ft)	TECHNOLOGIES 4TARGETING LTD	5 years from 04/02/2010 (2)	£10,771.55	(03/02/2015)
Third/Rear	Office	204.29 sq m	(2,199 sq ft)	VACANT POSSESSION		£600 (6)
Fourth	Office	313.46 sq m	(3,374 sq ft)	VACANT POSSESSION		£33,000
Church Walk	4 Parking Spaces			D SAYEGH & PARTNERS		£3,000
Church Walk	4 Parking Spaces			STEPHENSON SMART		£1,500
Church Walk	4 Parking Spaces			VACANT POSSESSION
Totals		1,474.02 sq m	(15,866 sq ft)			£60,994.55

(1) For the year ending 31st March 2011, Seetec Business Technology Centre Limited reported a turnover of £53,457,888, pre-tax profits of£14,641,639 and a net worth of £15,985,222. (Source: riskdisk.com 06/06/2012)
(2)The lease provides for a tenant option to determine the lease on 4th February 2013 on giving 6 months’ notice.
(3)Diamond Resourcing plc is a multi-functional consultancy dealing with the placement of permanent, temporary and contract staff.