Landmark riverside building
• 382 en-suite bed spaces in a prominent, modern scheme in Stockton-On-Tees
• Nominations Agreement with Durham University for the entire building until September 2019
• Annual reviews directly proportional to those made by the University
• The University underwrites all of the core term income which currently totals circa £2.0 million gross
• There is an opportunity to implement a new Nominations Agreement with the International Study Centre, post September 2019
• Potential to change the property's use (stp) to traditional residential, hotel and leisure accommodation in 2019 and beyond
JLL is inviting offers on an unconditional basis for the freehold interest in this asset. Selling on behalf of Ryan Grant, Simon Wilson and Anne O'Keefe as the Joint Administrators of Bournston (Stockton) limited, acting without personal liability.
Residential development opportunity fronting onto the River Tees, benefitting from outline planning permission for 201 units.
The site lies c.700m to the south of Stockton-On-Tees town centre fronting onto the River Tees to the south of Boathouse Lane. Access and egress from the site leads directly onto the A1130 and the A135 allowing easy access into the town centre, Middlesborough and Newcastle. The site benefits from direct access onto Boathouse Lane and benefits from direct frontage onto the River Tees.
The site is of a regular shape and site remediation works have been completed on the site.