Coquet House, Clifford Street, Newcastle upon Tyne, NE6 1PH

Lot Image

Auction sale - Monday 13th July 2015

Result:

Sold for £272,000.

Upon the instructions of


  • Freehold ground rent investment
  • Government occupier
  • Producing £12,500 per annum
  • 5 yearly review 2015

Details

Location

The city of Newcastle upon Tyne is located on the banks of the River Tyne approximately 9 miles from the mouth of the river as it enters the North Sea. Newcastle has a population of around 300,000 and lies 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 two leading universities with over 55,000 students as well as two major regional hospitals and a premier league football club and is renowned for its nightlife attracting 20 million visitors a year. The city has enjoyed much regeneration including the newly developed Quayside with further inner city development currently taking place at the Stephenson Quarter and Science Central.
Newcastle lies on the main east coast rail line and is served by its own metro rail services and an international airport. Passenger and freight ferry services with Europe are at nearby North Shields.
Clifford Street lies upon the eastern side of the city centre in the centre of Byker and is set back from the busy Shields Road. There are a full range of multiple retailers, supermarket and Metro station close by, the property lying alongside a large police station.

Description

The property comprises a prominent corner site of approximately 20,600 sq ft (1,913.79 sq m) upon which there has been developed a modern single storey Job Centre with associated car park.

Tenure

Freehold.

VAT

We are not aware of any VAT liability.

Energy Performance Certificate

For EPC Rating please see website.

Address Accommodation Tenant Lease Terms Rent £ pa
TOTAL £12,500
Coquet House, Byker Site area approximately 20,600 sq ft (1,913.79 sq m) Trillium (PRIME) Property GP Ltd (sub-let to the Secretary of State for Work and Pensions) (1) 99 years from 10/10/1985 £12,500
(1) The lease is subject to 5 yearly reviews. Next review October 2015. The lease is subject to a 6 month rolling tenant break.

Contact

Seller's solicitor

Newcastle Legal Services

(Carol Graham)

0191 211 5140

carol.graham@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.

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