INVESTMENT OPPORTUNITY 5 Fern Court FOR SALE. Bracken Hill Business Park, Peterlee, SR8 2RR. For Sale - Single Let Office Investment

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1 INVESTMENT OPPORTUNITY 5 Fern Court FOR SALE Bracken Hill Business Park, Peterlee, SR8 2RR For Sale - Single Let Office Investment

2 INVESTMENT SUMMARY Two storey office building extending to an area of 10,628 sq ft Located adjacent to the, with excellent connectivity to the wider region Well established office park home to a number of household names Let to the excellent covenant Auxillis Services Limited on a lease expiring 13 March 2022 (4.7 years to expiry / 2.7 years to break) Rent of only 4.94 per sq ft Secure car park with automated barrier system and a high ratio of 1:279 sq ft Offers are sought in excess of 350,000 (Three Hundred and Fifty Thousand Pounds) reflecting a Net Initial Yield of 14.44% after deducting costs of 3.80% A purchase at this level reflects a low capital value of only per sq ft

3 MORPETH ASHINGTON LOCATION GLASGOW M6 ABERDEEN EDINBURGH CARLISLE A69 A66 A1 MANCHESTER LIVERPOOL M6 NEWCASTLE M1 M1 M4 YORK SHEFFIELD BIRMINGHAM BRISTOL LEEDS Road Rail M1 Peterlee MIDDLESBROUGH M40 M11 LONDON A68 HEXHAM A66 A68 A689 A696 A69 A688 A66 Newcastle Airport NEWCASTLE UPON TYNE GATESHEAD CHESTER-LE-STREET A690 SCOTCH CORNER Cook Way Shotton Road DURHAM A A68 59 STOCKTON 58 DARLINGTON A WHITEHOUSE BUSINESS PARK A167 Judson Road Shotton Lane BRACKEN HILL BUSINESS PARK A690 TYNEMOUTH Port of Tyne SOUTH SHIELDS Durham Tees Valley Airport Whitehouse Way Whitehouse Way B1320 SOUTH WEST INDUSTRIAL ESTATE SUNDERLAND SEAHAM Bracken Hill Business Park A689 HARTLEPOOL Teesport MIDDLESBROUGH Pennine Drive A171 NEWCASTLE & NORTH B1320 Peterlee Location Peterlee is located in County Durham and is directly adjacent to the which connects it to Sunderland 12 miles to the north and Teesside 20 miles to the south. The property is 10 miles west of Durham city centre which provides rail links via the East Coast mainline, with a journey time of 2 hours and 50 minutes to London Kings Cross. Daily scheduled flights operate to various UK and European destinations from both Durham Tees Valley Airport and Newcastle International Airport. Situation Peterlee is a New Town and is the largest settlement in East Durham. A substantial employment area sits west of the with Caterpillar (UK) Ltd having a significant presence, occupying 11 buildings as part of their logistics and manufacturing complex. Other industrial and logistics occupiers include Bristol Laboratories, NSK Bearings and TRW. Office accommodation totalling over 500,000 sq. ft. is provided on Bracken Hill Business Park together with the smaller Whitehouse Business Park. Built in the late 1990s Fern Court sits within Bracken Hill, a 36 acre scheme on the southernmost part of the estate with occupiers including Fosters Cares, Capita and HMRC. 5 Fern Court Passifield Way TEESSIDE & SOUTH

4 WHITEHOUSE WAY 1 No5 Fern Court 9 DESCRIPTION BRACKEN HILL INDUSTRIAL PARK Fern Court comprises a modern two-storey detached office building with cavity brick walls beneath a tiled pitched roof. The subject property benefits from a double height glazed atrium to the front of the property and powder coated aluminium frame double glazed windows. Internally, the office accommodation is to a modern specification with suspended ceilings, Category II lighting and raised access flooring. Each floor benefits from a lobby space complete with male, female and a DDA compliant toilet as well as an 8 person passenger lift. The unit benefits from onsite parking in an attractive landscaped setting providing 38 car parking spaces, 2 of which are disabled spaces, with an excellent ratio of 1:279 sq ft. The car park can only be accessed via a secured key-fob electric gate and has CCTV security facilities.

5 ACCOMMODATION The property has been measured in accordance with IPMS3 and comprises the following areas: SQ M SQ FT Ground Floor ,256 Second Floor ,372 Total ,628 VAT The sale will be treated as a Transfer of Going Concern (TOGC). CAPITAL ALLOWANCES No unclaimed capital allowances remain available. EPC The property has an Energy Performance Certificate rating of E(119).

6 TENURE The property is held on a long leasehold basis from Durham County Council for a term of 175 years from 04 April 1996 at a peppercorn rent. The unexpired term is therefore c. 153 years. TENANCY The property is let to Auxillis Services Limited on a FRI lease for a term of 5 years expiring 13 March 2022 with a tenant s only break clause on 13 March The tenant has a concessionary rent for the first two years rising to 52,475 per annum for the remainder of the term, which equates to a very low 4.94 per sq ft with the vendor to top up to this level. The lease is excluded from the Security of Tenure provisions of the Landlord and Tenant Act Furthermore the lease is subject to a Schedule of Condition which is available upon request. Period Rent (per annum) Passing rent 26,237 11/04/ /04/ ,485 11/04/ /03/ ,475

7 COVENANT STRENGTH Auxillis Services Limited Company Number: Auxillis Services was established in 1992 and is part of the 379.2m turnover AIM listed Redde plc. Auxillis provides customers involved in fault and non-fault accidents with replacement vehicles and repair management services, as well as providing insurance and legal services. Auxillis have 26 branches strategically placed across the UK currently and fully occupy the adjacent 32,000 sq ft Redmond House Turnover 286,525, ,276, ,076,000 Pre Tax Profit 23,537,000 15,536,000 3,861,000 Shareholder s Funds 49,363,000 31,016,000 13,830,000 Auxillis were previously known as Helphire Ltd and their call centre function has been sited on the Bracken Hill Business Park in one form or another for over 18 years.

8 PROPOSAL Offers are sought in excess of 350,000 (Three Hundred and Fifty Thousand Pounds) reflecting a Net Initial Yield of 14.44% after deducting costs of 3.80% Richard Turner Tel: richard.turner@cushwake.com Gagan Jagpal Tel: gagan.jagpal@cushwake.com Peter Atkinson Tel: peter.atkinson@cushwake.com Katy Paxton Tel: katy.paxton@cushwake.com Cushman & Wakefield Debenham Tie Leung Limited ( C&W ) gives notice to anyone who may read these particulars as follows: 1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property only and do not constitute any part of an offer or contract. 2. Any information contained in these particulars (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact or that the property is in good condition or otherwise nor that any services or facilities are in good working order. 3. The photographs appearing in these particulars show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. Any areas, measurements or distances referred to herein are approximate only. 4. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 5. No person in the employment of C&W has any authority to make or give any representation or warranty whatsoever in relation to this property. 6. This property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT. 7. Unless otherwise stated, no investigations have been made by or on behalf of C&W regarding pollution, or potential land, air or water contamination. Interested parties are advised to carry out their own investigations as required. Particulars prepared Juy Designed & produced by Ref: CSD1109