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For Sale£1,900,000.00

Valley Street North, Darlington, DL1 1GY

Offices, Office , 45000 Sq Ft
Property type: Offices, Office
Tenure: Investment Opportunity, For Sale Freehold
Size: 45000 Sq Ft
Price: £1,900,000.00
Location: Enterprise House, Valley Street North, Darlington, DL1 1GY
Multi let office investment
Enterprise House, Valley Street North, Darlington, DL1 1GY
Detached three storey office building with two two storey attached wings and single storey block to rear. Constructed during the 1970s the main building is of brick construction with reinforced concrete under felted flat roofs. The single storey block is of brick construction under pitched corrugated profile metal sheet roofs. The buildings have double glazed windows. Internal spec of the main building generally includes main communal entrance with large reception area and meeting room, suspended ceilings, platform lift, ramped DDA access to main entrance, CAT5 internet wiring. Gas and electric heating each unit. 125 car parking spaces within on site private car park. The offices comprises 28 suites total NIA approx. 4,180sq.m. (45,000sq.ft.)
Site area 1.866 acres (0.755 hectares)
The building presently has 23 tenants representing 93% occupancy of the building. A selection of companies include Vortex Global, Lintech, Working Links, Royal Voluntary Service, Anglian Windows, Kormag, Validair Diamond Scientific. Present net rental income £220,173 per annum.
Service charge payable.
Gross initial yield 11.59%
Price Guide £1.9m
No VAT payable on the purchase price
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