Office
A freehold investment opportunity with current rent passing of £39,200pa held on a 25 year lease to a strong covenant namely Tilbury Douglas Construction Limited.
The property is situated at the northern end of Ross Road which runs northwards off Portrack Lane (A1046) one of the main arterial routes in to Stockton on Tees from the A19 dual carriageway. Stockton town centre is approximately two miles to the south west and the A19 approximately one mile to the east of the subject property.
Portrack Lane is the main focus of commercial and industrial activity in Stockton with numerous retail and trade counter developments as well as large amounts of industrial properties.
The area immediately surrounding the subject property is industrial in nature with occupiers including Romax UK, DPH Engineering and Jump 360 Trampoline Park. Notable occupiers such as Howdens and One Gym are also located close by.
Description
The property comprises of a detached two storey office building and a single storey industrial unit, within a secure compound enclosed by steel palisade fencing.
The office building is located at the entrance of the site, fronting Ross Road, and is of brickwork construction under a flat roof. Internally the space is arranged as cellular offices over two floors in an L shaped building. Windows are double glazed and there are solid carpeted floors, with suspended ceilings incorporating LED recessed lighting. On the ground floor there is a kitchen and mess area together with male, female and disabled WCs. Space heating is provided by a gas fired boiler serving panel radiators. There is also some air conditioning present.
Externally parking is available off Ross Road with approximately 12 parking spaces in front of the office building with further parking available in the yard at the rear.
The warehouse building is of concrete framed design estimated to have been constructed in the 1960s A timber double door provides the main access into the warehouse space which measures 3.50m wide by 3.54m high. The maximum height in the warehouse is 5.84m at the apex with the minimum eaves height being 3.84m at the haunch. There is also a small mezzanine area used for basic storage purposes.
Interested parties are advised to inspect the legal pack for more information.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
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 auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 3.6% of the purchase price (subject to a minimum of £6,000 inc. VAT).
The Buyers 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.
