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Property Particulars Office Investment for SALE Property Particulars Office Investment FOR SALE One West Durham Office Park St. Johns Road Meadowfield Durham DH7 8RD Investment Summary Modern, Purpose Built Office Complex Total Net Internal Area 833.5 m2 (8,972 f2) Site Area Approximately 0.36 Hectares (0.88 Acres) Tenant is a Wholly Owned Subsidiary of Mott MacDonald Currently Producing a Total Income of £81,250 per annum Low Capital Value with Offers Invited in Excess of £900,000 for the Benefit of the Freehold Interest Net Initial Yield of 8.54% Following the Deduction of Purchasers Costs at 5.75% www.bradleyhall.co.uk 0191 383 9999 www.bradleyhall.co.uk SITUATION TENANT PROFILE Meadowfield is a popular commercial and residential suburb of Durham City. The nearby A690 provides access to the city as well as west towards Crook and the Wear Valley and the city of Durham to the east. The A1(M) (6 miles) provides access North to Newcastle upon Tyne (24 miles) and south to Darlington (26 miles). The A167 is accessed at Nevilles Cross (1.5 miles) to Mott MacDonald are a global management, the east. The A167, old A1 road provides access north engineering and development consultancy company. towards Framwellgate Moor and Chester-le-Street (10 With over 16,000 staff in 140 Countries they are one of the largest employee-owned companies in the miles) and south towards Chilton and Newton Aycliffe world. (12 miles). The mainline intercity railway services provided in Durham City allow for easy access Over the last six years Mott MacDonald have won throughout the country. over 525 industry awards and in 2014, was named one of the top 10 firms in the Global Environmental DESCRIPTION Consulting Industry. West Durham Office Park is a modern and prestigious purpose built office complex being of brick & cladded Some of the notable projects completed by the firm elevations under a pitched roof being of detached 4 to date include; London Heathrow Terminal 5, storey design with associated car parking. Wembley Stadium, Hong Kong International Airport and the Channel Tunnel. Internally, the subject property is fitted to a high specification including Category 5 cabling, dual More information about Mott MacDonald can be purpose air handling units providing cooling and found on their company website heating, a security alarm system and telephone entry https://www.mottmac.com system. The property also benefits from a passenger lift and toilets to each floor. ASKING PRICE Externally, the property benefits from generous on site We are instructed to seek offers in excess of £900,000 car parking and is bounded in the main by various for the benefit of the freehold interest. landscaped areas. RATING ASSESSMENT ACCOMMODATION We understand that the rating assessments on the The property briefly comprises the following net premises as at 1 April 2010 is as follows, although we internal areas; would advise that some assessments may have been the subject of appeals and any interested party should Ground Floor 217.40 m2 2,340 f2 confirm the current position with the Local Authority. First Floor 215.20 m2 2,316 f2 Second Floor 215.20 m2 2,316 f2 Description RV UBR Third Floor 185.80 m2 2,000 f2 Offices & Premises £68,750 48.2p Total Area 833.5 m2 8,972 f2 ENERGY PERFORMANCE The property has an energy performance rating of 70 TENANCY within Band C. Further details are available upon The property is let to J.N Bentley Limited which is a wholly request. owned subsidiary of the Mott MacDonald Group. The lease was taken in August 2014 for a term of 10 years at a rent of £81,250 per annum and is subject to 5 yearly, upward only LEGAL COSTS rent reviews as well as a tenant only option to break at the Each party is to bear their own legal costs involved in end of the fifth year of the term. the transaction. B455 Printed by Ravensworth 01670 713330 26/27New Elvet, Durham, DH1 3AL Tel: 0191 383 9999 Email: [email protected] www.bradleyhall.co.uk VAT All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT. VIEWING For general enquiries and viewing arrangements please contact sole agents Bradley Hall Chartered Surveyors. AGENTS NOTES You may search our company website www.bradleyhall.co.uk for details of all our current instructions. In accordance with the Code of Leasing Business Premises: England and Wales the landlords are willing to consider alternative lease terms to those set out above but please bear in mind that variations may affect the level of rent proposed. A copy of the Code of Leasing Business Premises: England and Wales can be obtained at www.leasingbusinesspremises.co.uk or obtained from the Royal Institution of Chartered Surveyors, Telephone 0207 334 3806. IMPORTANT NOTICE Bradley Hallfor themselves and for the Vendors or Lessors of this property whose agents they are give notice that: 1) the particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute part of an offer or contract. 2) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and their details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3) no person in the employment of Bradley Hall has any authority to make or give any representation or warranty whatever in relation to this property of these particulars nor enter into any contract relating to the property on behalf of Bradley Hall, nor any contract on behalf of the Vendor. 4) no responsibility can be accepted for any expenses incurred by intending purchasers or lessees in inspecting properties which have been sold, let or withdrawn. Bradley Hall is the trading name of Bradley Hall Limited, Registered in England No. 6140702 Registered Office: 26/27 New Elvet, Durham City DH1 3AL. B455 Printed by Ravensworth 01670 713330 26/27New Elvet, Durham, DH1 3AL Tel: 0191 383 9999 Email: [email protected] .
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