Sungold House, Scotswood Road, Newcastle upon Tyne, Tyne and Wear, NE4 7AP

Lot Image

Auction sale - Monday 13th July 2015

Result:

Sold for £230,000.

Upon the instructions of


  • Freehold
  • Commercial ground rent investment
  • Producing £7,000 per annum
  • Next review 2019

Details

Location

The city of Newcastle upon Tyne is located on the banks of the River Tyne and alongside the A1 and A19 trunk roads so providing easy access to the north and the south. The A69 runs east to Carlisle following the line of Hadrian's Wall. The city has a population of around 300,000 and two leading universities with over 55,000 students as well as two major regional hospitals and a premier league football club, and attracts over 20 million visitors a year.
The city has enjoyed much regeneration including the Quayside and ongoing Science Central redevelopment. The city lies on the main east coast rail line and is served by its own metro rail services and a regional airport. The property faces the busy Scotswood Road, upon the edge of the Scotswood Industrial Estate, close to the city centre.

Description

The property comprises two buildings, one a split level three storey office building with vehicle work shop bays and a car park. The two storey offices have a prominent main road frontage from which they are accessed, and below is a vehicle fitting bay and car park. In addition there is a substantial detached building with double height eaves arranged as a vehicle workshop. The buildings are all accessed from the rear on a site of approximately 10,900 sq ft (1,012.63 sq m).

Tenure

Freehold.

Planning Authority

Newcastle City Council (0191 278 7878) www.newcastle.gov.uk.

VAT

VAT is not applicable to this lot.

Energy Performance Certificate

For EPC Rating please see website.

Address Accommodation Tenant Lease Terms Rent £ pa
TOTAL £7,000
Sungold House Site area 10,900 sq ft (1,012.63 sq m) with two buildings Sungold Autosounds Ltd (1) 99 years from 01/07/1970 (54 years to reversion) £7,000
(1) The ground rent was last reviewed in 2005 and is subject to14 yearly reviews, next review 2019.

Contact

Seller's solicitor

Newcastle Legal Services

Danielle Hadden

0191 211 5161

danielle.hadden@newcastle.gov.uk

* Guide price

The guide price is an indication of the minimum price at which, or if a guide price range is given, within which, the seller is prepared to sell at the date of publication. The guide price is not an anticipated sale price or valuation. All prices quoted are subject to contract.

* Reserve price

The reserve price is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell.

Both the guide and reserve may be subject to change up to and including the day of the auction. The guide price does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price. On the fall of the hammer a buyer’s fee is payable of £990 inclusive of VAT.

Contact us now

National auctions

Tel: +44 (0) 207 198 2000
Email: auctions@lsh.co.uk

Online auctions

Tel: +44 (0) 207 198 2000
Email: onlineauctions@lsh.co.uk

Register for updates

Sign up today to receive these benefits:
  • Receive new property notifications
  • Register for a catalogue
  • Receive market updates
  • Receive auction results