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
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.
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
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.
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.
