Commercial Property
The property comprises of a six storey building currently configured as office space of brick construction built circa 1954. Internally there is a reception area along with two passenger lifts (not tested) along with stairs to the upper floors. The common areas have had a recent refurbishment.
Floor Area (approx.) - 271 sq.m (2,923 sq.ft)
Floor Area (approx.) - 387 sq.m (4,165 sq.ft)
Floor Area (approx.) - 663 sq.m (7,136 sq.ft)
Floor Area (approx.) - 560 sq.m (6,027 sq.ft)
Floor Area (approx.) - 338 sq.m (3,638 sq.ft)
Floor Area (approx) - 209 sq.m (2,249 sq.ft).
There are two double garages along with parking. Within the immediate vicinity is further parking for approximately 1,000 vehicles which at the time of inspection was free.
We feel the property would lend itself well to a reconfiguration perhaps involving a part or full residential element, creation of commercial units and/or reconfiguration of office space to provide small work units. The building offers flexibility to accommodate changes, all subject to obtaining appropriate planning consent. Interested parties are advised to inspect and satisfy themselves as to the suitability of the accommodation. Access can be arranged via auctioneers.
Leasehold. We are advised that the property is held on a 999 year lease from 1st September 2004. There is an option to purchase the freehold after the 25th year of the term for a sum of £100. We advise interested parties to seek legal pack for more information.
The building is located in Peterlee which is situated approximately 10 miles south of Sunderland with the A19 Road serving as a link between the two. The building sits close to the southern entrance of the Castle Dane Shopping Centre and lies within close proximity to Peterlee interchange which provides regular bus links to wider region.
We understand that VAT will be chargeable on this transaction.
Leasehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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