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Floorplan
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    Key features

    • To be offered on Wednesday 25 February
    • A freehold modern office amounting to an approx. 11,638 sq ft. (1,081 sqm)
    • Low capital value of £29.21 per a sq ft
    • Suitable for both investors & owner occupiers
    • Asset management potential to let the property out in its current format
    • Development & change of use potential (subject to the requisite consents)
    • Gateshead Metro Station located an approx. 0.1 miles from the property
    • 6 5 week completion available
    • Vacant

    Description

    A freehold detached property that was most recently occupied by an owner occupier and previously used as high-end serviced office accommodation. The property is situated over 4 floors (Basement, Ground, First and Second Floor) and previously included multiple office studios including a TV studio and café at ground floor.*Please refer to notes.

    The property offers instant asset management potential in its current use or alternative uses, and/or development potential (subject to the requisite consents).

    The property would also be suitable for owner occupiers.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please refer to the floor plan

    Tenancy

    Vacant

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.


    Please note that VAT is applicable on the sale of this property (please refer to the legal pack)


    * Please not that the previous use/layout was taken from old sales particulars when the property was previously sold. The property was previously let to multiple different occupiers. Savills nor our client can provide confirmation that this information is correct purchaser will need to do their own due diligence.


    Joint Auctioneer

    Emma Young

    Savills Newcastle

    Email: emma.young@savills.com

    Mob: 07977097760

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located on the South side of Mulgrave Terrace and close to the junction with A184.

      Gateshead Metro Station location an approx. 0.1 miles from the property

      Transport

      Gateshead Metro Station - Tyne and Wear Metro (providing services through Newcastle)

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums