Regus Building Doxford International Business Park Sunderland Tyne & Wear SR3 3XW

Regus Building
Doxford International Business Park
Sunderland
Tyne & Wear
SR3 3XW

Virtual Freehold Office Ground Rent Investment

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Withdrawn Post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
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Virtual Freehold Office Ground Rent Investment

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Status Withdrawn Post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

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

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.