Property description

SITUATION

Durham City has a catchment approaching 100,000, being situated only one mile from the A1(M) motorway with direct Inter City links to London and Edinburgh. The Castle and Cathedral have been designated a World Heritage site.

The subject property is located on Finchale Road near Newton Hall which is within 3 miles to the north of Durham City centre, 4 miles south of Chester le Street and only half a mile to the south of the Arnison Retail Park and Abbeywoods Business Park where the northern relief road allows easy access to the A167.

DESCRIPTION

The property comprises ground and first floor office suites within Jordan House, one of the three two storey blocks, forming part of the Forster Business Centre. The property is of brick wall construction with UPVC double glazing and provides an abundance of onsite car parking to the front and rear.

ACCOMMODATION

The accommodation briefly comprises 130 m² (1,404 f²) off well maintained office space to the ground floor and 158 m² (1,699 f²) to the first floor. The property benefits from gas central heating throughout, small kitchen/tea making area to the ground and first floor, Cat II lighting and dado trunking suitable for telecommunications and data cabling. Toilet facilities are available on the ground floor and a two person lift provides access to the first floor.

The existing lease provides 16 allocated car parking spaces. An option to purchase addition parking exists at an estimated rate of £200 per annum per bay.

TERMS

The property is available by way of lease assignment. The lease is an effective full repairing and insuring lease with a rent payable of £22,500 per annum until 26^th of April 2015 stepping up to £23,333 per annum until expiry on 26^th of April 2016.

While the preference is to assign the whole, our client has indicated that they may consider lettings of the ground and first floor in separation.

RATING ASSESSMENT

RV                           UBR                        Estimated Rates

£19,250                   48.2p                       £9,279

We are advised that the rateable value of the premises as at 1 April 2010 is £19,250 and we have estimated the accrual rates payable for the current year above. This is based on the standard Business Rate multiplier of 48.2p in the pound. However, interested parties should confirm the current position with the Local Authority.

As a new occupier rights of appeal may exist against this assessment.

LEGAL COSTS

Each party is to bear their own legal costs involved in the transaction.

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.

Property Features :

• May Let on a Suite by Suite Basis
• Close to Arnison Retail Park, Sainsburys, M & S and Others
• Easy Access A167/A1(M)
• Durham City Centre within 3 miles, Chester le Street - 4 miles, Newcastle - 15 miles
• 16 On Site Parking Bays with the Option to Increase at an Additional Cost