Location
This property is located on Samson Close, Killingworth which lies approximately 5 miles south of Cramlington and 5 miles north east of Newcastle. The estate is well positioned with straightforward access to both the A1 and A19.
Property & Business Opportunity
The premises comprise a detached two storey building of brick construction. The are larger open plan spaces on the ground floor with smaller modular offices on the upper floor. The property was acquired in 2018 and the current owner, who occupies a large portion of the ground floor, invested considerable sums in a full refurbishment of the whole site.
The current owner occupies the majority of the ground floor and the remainder of the property provides a range of serviced office space. We have been verbally informed that a number of the tenants would stay in occupation should a new owner desire.
The property sits on a site of circa 0.5 acres and there is car parking to both the front and rear of the site.
Accommodation
The floor areas on a Gross Internal Area basis are;
Ground Floor
Offices 340 sq.m. (3,600 sq.ft.)
Ladies & Gents Toilets
First Floor
Offices 185 sq.m. (2,000 sq.ft.)
Ladies & Gents Toilets
External
Front & Rear designated car parks
Ground Lease
The land is held by way of an 80 year ground lease from North Tyneside Council and dates from 1st December 1967. The current ground rent is £4,250 per annum with reviews at the 20th, 40th and 60th anniversaries. The Council have indicated that they would extend the current term. Details on application
Legal Costs
Each party will be responsible for their own legals costs. Any head landlord’s legal costs will be shared equally.
Purchase
Offers over £200,000 are invited for the property and the remainder of the long leasehold interest.
Business Rates
The premises have been used as serviced offices and there are separate rateable values attached to this address.
EPC
Rating C.
Money Laundering Regulations
In accordance with the current Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.