Office
DRAFT DETAILS
This purpose-built office development is conveniently located on the Team Valley Trading Estate, approximately two miles outside of Gateshead town centre and within four miles of Newcastle City Centre. The property is arranged over three floors with the subject suite on the second floor. Benefits include, full double glazing, a gas fired heating system, suspended ceilings with recessed lighting, male and female W/C facilities and a separate kitchen. Team Valley is a well-established mixed use location, housing a number of industrial, office, retail and leisure facilities. Situated off the A1 motorway, just over a mile away from Dunston train station and with a regular bus service running directly to the estate, the property is very easily accessible via car or public transport.
The auctioneers have not inspected the property but believe it to comprise:
The property provides the following approximate net internal floor areas:
Second floor 327 sq m 4,003 sq ft
125 Years from 1989 at a peppercorn rent.
We have been informed by the vendor that VAT is payable on the lot.
The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.
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 Variable Fee (England and Wales).
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 fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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 Price
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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