Property Comprises...

LOCATION
The subject property is located within Brighouse Business Village in Riverside Park Industrial Estate close to the heart of Middlesbrough. This area is a very well established commercial location, provided with a high level of other businesses and business premises and because of this the area is provided with a high level of services and facilities, both in the immediate location and Middlesbrough town centre approximately one mile South. Due to the setup of this area there is good access to the rest of the region provided by the nearby A19 and A1.



DESCRIPTION
The subject properties are a single storey, office / warehouse premises, of steel frame construction, with brick and block work elevations under a pitched metal decked roof. The premises provide roller shutter access and unit 4b benefits from remote security shutters. Internally the premises provide suspended ceiling, Cat II lighting, double glazed windows, gas fired central heating, with kitchen and WC facilities and three phase electricity.



ACCOMMODATION
The units have been measured and comprise the following approximate Gross Internal Aras:

Unit 4a: 203.1 m2, (2,186 sqft).
Unit 4b: 141.48 m2, (1,523 sqft).

TOTAL: 344.58 m2, (3,709 sqft).



EXTERNAL
The estate that the subject lies within provides shared car parking and access for the units, however none is allocated and non is included within the title of the properties that are to be sold.



LEASE INFORMATION
UNIT 4A:

The unit is let to Converteam UK Limited by way of a 10 year full repairing and insuring lease, with effect from the 20th June 2008. The rent is £12,500.00 per annum and is subject to a rent review and tenants option to break in year 5.

Converteam UK Ltd is part of the Converteam Group SKS and is worldwide specialists in power conversion, (source: www.converteam.com). For the year ending 31/12/2009 Converteam UK Ltd reported a turnover of £310,709,000 pre-tax profits of £31,252,000 and a net worth of £7,520,000.

UNIT 4B:

The unit is let to SK Chilled Foods Limited originally by way of an 18 month lease commencing 3rd September 2009 at a rent of £6,000.00 per annum exclusive. The company then signed a new lease dated the 8th March 2011, which commenced the 3rd March 2010 and expires the 24th December 2011 at the same rent.

SK Chilled Foods Ltd has verbally confirmed that they wish to stay in occupation of the premises after the 24th December 2011, continuing their running occupation of the property from September 2009 at the same rent.

This provides a Total rental income from both units of £18,500.00 (Eighteen Thousand and Five Hundred Pounds) per annum. Any interested parties should have their legal advisor check this.



TENURE
With regards to the subject properties to be sold within this lot, our client holds the properties by way of a 250 year long-leasehold interest, from 30th March 1989, which is due to expire in March 2239. The vendor would intend to sell the properties by way of a sub long leasehold interest, for the residue of that term less 2 years.

Any interested parties should have their legal advisor check this and be happy with the situation before proceeding to placing a bid or exchange, as all contracts are legally binding and deposits are non-refundable.



RATABLE VALUE
Unit 4a Brighouse Road: has been assessed by Middlesbrough Borough Council and is described as a, Business Unit and Premises, with affect from the 1st April 2010 has an Adopted Rateable Value of 10,000.00 pounds.

Unit 4b Brighouse Road: has been assessed by Middlesbrough Borough Council and is described as a, Business Unit and Premises, with affect from the 1st April 2010 has an Adopted Rateable Value of 6,600.00 pounds.

Our source for this, www.voa.gov.uk. Any interested party should have their legal advisor check this before proceeding to purchase.



EPC
The subject properties are currently in the process of being accessed for Energy Performance Certificate (EPC) purposes and once finalised will be made available to Pattinson Commercial and thereafter available to any and all interested parties upon request. Please contact Pattinson Commercial on: 0845 156 1586 for further information.



VAT INFORMATION
PLEASE NOTE: Value Added Tax, (VAT) is payable on the purchase of the subject property / lot and on the purchase price agreed. Any interested parties should have their legal advisor check this before proceeding to purchase, and should be 100% happy with their position before bidding.



JOINT AGENT
Pattinson Commercial are acting as joint agents in the sale of the subject property along side Storeys:ssp.



DISCLAMER
We are appointed as auctioneer by Storeys:ssp, we have not internally inspected the subject property and have therefore relied upon information provided to us by the agent, as such we cannot be held responsible for any misrepresentation.



ADDITIONAL INFORMATION
For further information please contact our office direct on 0845-146-1586, or alternatively via email on: commercial@pattinson.co.uk.

With regards to viewing the subject property / site/ business, this is to be done strictly by appointment through Keith Pattinson Commercial Department, please contact us to arrange an internal inspection, or to register your interest.



AUCTION INFORMATION
The subject property/site is offered on unconditional sale terms. This means that the successful bidder will be required to exchange contracts on the day together with the submission of a 10% deposit. Completion will thereafter take place no more than 28 days later. Interested parties should ensure they have satisfied themselves of all queries prior to auction as all acceptable bids are legally binding. As well as the 10% deposit any successful bidder would have to pay (650.00 pounds plus VAT) admin charge on any auction purchase.

Location