Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan
    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • To be offered on Tuesday 24 September
    • Of interest to investors
    • Substantial Industrial/Office/Training Centre Investment
    • Investment let at £135,000 pa (15.88% on Guide Price)
    • Let to NETA Training Trust
    • Comprises approximately 44,924 sq ft
    • Reflects a low rent of approximately £3 psf
    • Low Capital Value (£18.80 psf on Guide Price)

    Description

    The property comprises two substantial buildings used as industrial/education training centres, together with an external area, on a substantial site of approximately 1.94 acres (0.79 ha).

    Additional information

    Tenure

    Long Leasehold. Held on three titles for the terms below:


    • 99 years from 29.04.1988 at a peppercorn
    • 99 years from 30.10.1989 at a peppercorn
    • 99 years from 30.10.1989 at a peppercorn


    Accommodation

    Please note the approximate areas have been provided by the VOA/Vendor and the property has not been internally inspected by Savills. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. 


    Ground floor workshop - 2,568.75 sq m (27,650 sq ft)

    Ground floor office/ancillary - 966.29 sq m (10,401 sq ft)

    First floor office/ancillary - 438.21 sq m (4,717 sq ft)

    Ground floor portable buildings - 200.27 sq m (2,156 sq ft)


    Total - 4,173.52 sq m (44,924 sq ft)


    Tenancy

    The property is entirely let to NETA Training Trust on a 20 year lease from 10.06.2014 expiring 09.06.2034 at a current passing rent of £135,000 pa.


    NETA Training Group was founded at its current location in Stockton-On-Tees in 1975 to provide technical training service to the local engineering, offshore and petrochemical industries (www.neta.co.uk/about-us).

    Rent

    £135,000 pa
      • View Virtual Tour

        Play

      Arrange a viewing

      Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

      Please select a time from the options below

      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

      Legal documents

      Login to view legal documents

      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