Key features
- Prominent location
- Ground Floor
- Offices Comprising 141.36 m2 (1,522 ft2)
- Virtual Freehold
- Annual rent £21,360 per annum
- Secure income Let to The Secretary of State for Communities and Local Government
- 3 years, 6 months to expiry
- 9.26% Net Initial Yield after purchaser’s costs.
Description
OPPORTUNITY
Bradley Hall is delighted to be appointed to market this prominent ground floor unit on Park Road, Hartlepool.
LOCATION
The property is situated within the coastal town of Hartlepool within County Durham, Northeast England. The property itself occupies a prominent roadside position at the corner of Park Road and the A689, opposite Hartlepool College.
DESCRIPTION
Park Tower is a Grade ll Listed mixed-use building consisting of four ground floor retail/office buildings and 50 apartments. The subject property is a ground floor unit, with secure entry system with reception area and is currently laid out with stud partition walls providing 6no. testing rooms with vinyl floor, suspended ceilings throughout and carpeted common areas. The accommodation includes kitchen, staff room and w/c facilities. Externally, there is car parking to the side and rear.
ACCOMMODATION
Part of the Property |
Floor |
Sq M (Approx.) |
Sq Ft (Approx.) |
Commercial Units |
|||
Unit A (Atos) |
Ground |
141.36 |
1,522 |
TENURE
The property would be available long leasehold. The property is let to The Secretary of State for Communities and Local Government T/A DWP.
ASKING PRICE
We are instructed to invite offers in the region of £225,000 for our client’s long leasehold interest. Our client does not have to accept the highest nor any offer submitted to the agent.
ANTI-MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations we are required to verify the identify of the Purchaser/Tenant. We will do so based on name and address data provided but we may also require you to provide two forms of identification. We will require the Purchaser/Tenant to provide proof of the source of income.
VIEWING & FURTHER INFORMATION
For all enquiries and viewing arrangements please contact Bradley Hall.
Tel: 01642 265 300
Email: [email protected]
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall on this basis, and where silent, offers will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.
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