industrial in NE12

Samson Close, George Stephenson Industrial Estate, Newcastle upon Tyne, Tyne and Wear, NE12 6DX

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Online auction

Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk

  • Substantial two storey property
  • Industrial/office use
  • GIA 1,577sqm (16,976sqft)
  • Let for £45,200 per annum
  • Established industrial location
  • Long leasehold title (99y from 2011)

industrial in NE12

FOR SALE BY WAY OF ONLINE AUCTION: terms and conditions apply.

We are pleased to offer to auction this substantial two storey industrial/office building, well located within the established George Stephenson Industrial estate, Newcastle upon Tyne. The property briefly comprises of a office, main workshop, and rear workshop to the ground floor along with two offices, 2 workshops and a showroom to the first floor. Currently, the property is let to 3 separate tenants, generating an annual income of £45,200.

Summary

  • Property Type: Industrial
  • Tenure: Leasehold
  • Parking: Allocated

Location

The subject property is well located in George Stephenson Industrial Estate, Newcastle upon Tyne. The subject property is located close to local transport links with the closest bus stop being a short walk away as well as being close to major roads (A19 and A189). The property is 5 miles north of Newcastle upon Tyne city centre and 13 miles south of Morpeth.

Accommodation

GROUND FLOOR
Office
W.C.
Kitchen
Main workshop
Store
Workshop

FIRST FLOOR
Office
Office
W.C.
Workshop
Showroom
Workshop
Store

NIA 1,577.08sqm (16,976sqft)

Lease Details

We are advised that the site is virtually fully let, and generating an annual income of £45,200.

Ground floor: let for £30,000pa to an ink manufacturing company. Note these tenants are currently holding over, however are in discussions to sign a new lease.
Unit F: let for £9,500pa to a personal trainer.
Unit G: let for £5,700pa to a photographer.

Please refer to the legal pack for further tenancy information.

Tenure

Long leasehold title, from and including 23 June 2011 to and including 22 June 2110. Title number TY497807.

Rateable Value

The adopted rateable values, as of 1st April 2017, are as follows:
Ground floor: £7,100
Unit F: £9,300
Unit G: £5,600
Sourced from VOA.

EPC

Available upon request (rating D).

Additional Information

For further information please contact our office direct on 0191-737-1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, 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.

Ground floor

Ground floor

First floor

First floor

Second floor

Second floor

This property is being sold subject to unconditional auction terms and conditions.

 

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

 

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

 

Deposit

In order to secure the purchase a buyer will pay a 10% deposit subject to a minimum of £3,600 which contributes towards the overall purchase price of the property.

The deposit is non-refundable. 

 

Buyer Fees

There is an administration charge payable by the buyer of £650 + VAT (£780 inc VAT)

This does not form part of the purchase price.

 

More Information

For more information call our auction experts on 0191 206 9335 or email auction@pattinson.co.uk

 

ONLINE AUCTION NOTICE

I hereby acknowledge and confirm the following:  

My bid may be accepted by the seller at any time before the close of the auction.  It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack. If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.  

At the point of registration, you will be required to insert credit or debit card details as a way of payment towards the deposit and or reservation fee. We will only hold a nominal amount (which will be stated at the point of bidding) to enable you to bid. This amount will only be debited from your account should you be the successful bidder, in the event you are unsuccessful the agreed amount will be released back to your card within three business days.  If you are the successful bidder we will debit the agreed amount from your account immediately at the close of the auction, we will then contact you to confirm the outstanding balance (if applicable) at which point you can opt to use the same card.  Any amount payable at the close of the auction must be paid within 1 hour.   

Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second. 

Each auction will automatically stay open until there has not been a bid for 10 minutes. After 10 minutes without a bid, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last minute (or second) bidding and makes for a fairer auction as in a live room auction situation. 

Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity. It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice. 

Minimum online bidding increments: 

Up to £50,000 - £250 minimum bid 
£50,001 to £150,000 - £500 minimum bid 
£150,001 to £250,000 - £1,000 minimum bid 
£250,001 to £750,001 - £2,500 minimum bid 
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid

Please note this bidding process applies specifically to online auctions. 

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