Let on a new 125 year lease to a Serviced Office operator
Sublet to Regus (Sunderland Doxford) Ltd at a current rent of £318,750 p.a.x.
Secure, Substantial and Highly specified office building
5 yearly fixed rental increases to 2% pa compounded
Includes 122 car parking spaces. 1:213 sq ft
Six Week Completion Period Available
Lot 8
Auction 11th July 2013
Rent £38,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Ground Rent
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
13 miles south-east of Newcastle, 10 miles north of Durham, 25 miles north of Middlesbrough
Roads
A19, A1(M), A690
Rail
Sunderland Railway Station
Air
Newcastle International Airport
Situation
Doxford International Business Park is a modern and busy business park strategically situated immediately adjacent to the A19 and some 4 miles south-west of Sunderland city centre. The property is situated in the centre of the business park. Other major occupiers on the park include Barclays Bank, The University of Sunderland, Nike, EDF and Royal Mail.
Tenure
Freehold. Virtual Freehold. Held for a term of 999 years from 4th April 1996 at a fixed
peppercorn rent.
Location
Miles
13 miles south-east of Newcastle, 10 miles north of Durham, 25 miles north of Middlesbrough
Roads
A19, A1(M), A690
Rail
Sunderland Railway Station
Air
Newcastle International Airport
Situation
Doxford International Business Park is a modern and busy business park strategically situated immediately adjacent to the A19 and some 4 miles south-west of Sunderland city centre. The property is situated in the centre of the business park. Other major occupiers on the park include Barclays Bank, The University of Sunderland, Nike, EDF and Royal Mail.
Tenure
Freehold. Virtual Freehold. Held for a term of 999 years from 4th April 1996 at a fixed
peppercorn rent.
Description
The property comprises a substantial office building with office accommodation
on the ground and first floors. The offices are highly specified with raised floors, suspended ceilings and air conditioning. The offices benefit from being configured as 3 wings around a central core. The property benefits from a site area of approximately 0.79 hectares (1.95 acres) providing site coverage of approximately 30% and a car park for approximately 122 cars giving a car parking ratio of 1:213 sq ft.
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 office building with office accommodation
on the ground and first floors. The offices are highly specified with raised floors, suspended ceilings and air conditioning. The offices benefit from being configured as 3 wings around a central core. The property benefits from a site area of approximately 0.79 hectares (1.95 acres) providing site coverage of approximately 30% and a car park for approximately 122 cars giving a car parking ratio of 1:213 sq ft.
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
Basement Ground First
Atrium Offices Offices
97.39 sq m 1,168.60 sq m 1,153.10 sq m
(1,054 sq ft) (12,579 sq ft) (12,412 sq ft)
OMNIA DOXFORD LIMITED (1) (3)
125 years from completion of the sale until 2138
£38,000
2018 and 5 yearly Increased by 2% pa compounded (2)
Totals
2,419.09 sq m
(26,045 sq ft)
£38,000
(1) Omnia Doxford Limited are a serviced office operator. Omnia currently operate several serviced office centres. For more information see www.omniaoffices.com (2)The lease provides for the rent to be increased every 5th year by 2% per annum compounded. (3)The tenant has sublet the entire property to Regus (Sunderland Doxford) Ltd at a current rent of £318,750 p.a.x.
