Property photos
Offers in region of
£495,000
(£53.23/sq. ft)
Office for sale
Newbottle Street, Houghton Le Spring DH49,863 sq. ft
Local area information
Property location
Nearby amenities
- Burnside Academy Inspires 0.2 miles
- Kepier 0.4 miles
- Chester-le-Street 4.3 miles
- Seaham 5.3 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Read our area guide for Houghton Le Spring to find out more about the local area.
Features and description
- Prominent town centre office building
- High quality fit out constructed 2003
- Totalling 9,863 ft2 (916 m2) over 3 floors plus parking
- Passenger lift to all floors
- New lease of part to Gentoo at £27,500 pax
- Suitable for owner occupation/redevelopment STP
Location
Houghton le Spring lies approximately 7 miles northeast of Durham and 8 miles southwest of Sunderland. The property is situated at the northern end of Newbottle Street at its junction with Station Road in the town’s main retail pitch where nearby retailers include B&M, Iceland, Lidl, Savers and Superdrug amongst others.
Description
Comprising purpose built detached 3 storey office building of steel framed construction with pitched roof constructed and occupied by Gentoo in 2003 as a housing office. The building is arranged over 3 levels plus plant room with a passenger lift to all floors and a surfaced car park to the rear for approximately 9 cars shown on the attached plan for identification purposes only.
Proposal
As a condition of the sale, Gentoo Group Limited will lease back the ground floor and basement at an annual rental of £27,500 for a term of 10 years with a rent review and tenant only break at the end of year 5 on a tenant internal repairing basis. The first floor will be sold with vacant possession and on this basis the car park is shared on a 50/50 basis. Alternatively, the property can be sold with full vacant possession.
Covenant Information
Gentoo is a Sunderland based housing association, providing homes to over 60,000 people across the city. Gentoo maintain and invest in over 28,500 properties across Sunderland and are one of the largest employers in the city, employing more than 1,000 colleagues. The Group has a turnover of £177m investing £1 million a week in existing properties. In addition to maintaining and improving existing homes, Gentoo is committed to increasing the supply and accessibility of affordable housing by building more than 700 new, affordable homes by 2029.
Asking Price
oiro £495,000 (four hundred and ninety-five thousand pounds). We are advised the property is not subject to VAT.
Accommodation
ft2 m2
Ground Floor offices NIA 3685 342.34
First Floor offices NIA 4324 401.70
Lower Ground Floor stores NIA 1854 172.24
total 9863 916.27
Externally Car park to rear – 9 marked bays
Tenure
We are advised the property is Freehold under various titles. A small proportion of the site registered under title number TY285351 is unregistered, and title indemnity insurance will be provided accordingly.
Costs
Each party will be responsible for their own Legal Fees incurred in the transaction.
Viewing
Contact – Mario Jaconelli or Alexa Reavley
•
•
• Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Value is £48,000. The Uniform Business Rate for the Rates Year 2025/2026 is 49.9p. If necessary, a written request should be made to the Local Authority for confirmation.
Money Laundering Regulations
In accordance with aml Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.
Disclaimer
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.
Ref C4226 EPC Energy Rating 51/C
Houghton le Spring lies approximately 7 miles northeast of Durham and 8 miles southwest of Sunderland. The property is situated at the northern end of Newbottle Street at its junction with Station Road in the town’s main retail pitch where nearby retailers include B&M, Iceland, Lidl, Savers and Superdrug amongst others.
Description
Comprising purpose built detached 3 storey office building of steel framed construction with pitched roof constructed and occupied by Gentoo in 2003 as a housing office. The building is arranged over 3 levels plus plant room with a passenger lift to all floors and a surfaced car park to the rear for approximately 9 cars shown on the attached plan for identification purposes only.
Proposal
As a condition of the sale, Gentoo Group Limited will lease back the ground floor and basement at an annual rental of £27,500 for a term of 10 years with a rent review and tenant only break at the end of year 5 on a tenant internal repairing basis. The first floor will be sold with vacant possession and on this basis the car park is shared on a 50/50 basis. Alternatively, the property can be sold with full vacant possession.
Covenant Information
Gentoo is a Sunderland based housing association, providing homes to over 60,000 people across the city. Gentoo maintain and invest in over 28,500 properties across Sunderland and are one of the largest employers in the city, employing more than 1,000 colleagues. The Group has a turnover of £177m investing £1 million a week in existing properties. In addition to maintaining and improving existing homes, Gentoo is committed to increasing the supply and accessibility of affordable housing by building more than 700 new, affordable homes by 2029.
Asking Price
oiro £495,000 (four hundred and ninety-five thousand pounds). We are advised the property is not subject to VAT.
Accommodation
ft2 m2
Ground Floor offices NIA 3685 342.34
First Floor offices NIA 4324 401.70
Lower Ground Floor stores NIA 1854 172.24
total 9863 916.27
Externally Car park to rear – 9 marked bays
Tenure
We are advised the property is Freehold under various titles. A small proportion of the site registered under title number TY285351 is unregistered, and title indemnity insurance will be provided accordingly.
Costs
Each party will be responsible for their own Legal Fees incurred in the transaction.
Viewing
Contact – Mario Jaconelli or Alexa Reavley
•
•
• Rateable Value (rv)
The Valuation Office has confirmed the current Rateable Value is £48,000. The Uniform Business Rate for the Rates Year 2025/2026 is 49.9p. If necessary, a written request should be made to the Local Authority for confirmation.
Money Laundering Regulations
In accordance with aml Regulations, the Purchaser/Tenant will be required to provide 2 forms of identification together with confirmation of the source of funding.
Disclaimer
None of the equipment or systems within the premises have been tested by the Agent and it is the responsibility of the Purchaser/Lessee to ensure that they are in working order.
Ref C4226 EPC Energy Rating 51/C
More information
Listed by
Lofthouse and Partners Ltd
View agent properties.png){kind=logo}
Property descriptions and related information displayed on this page are marketing materials provided by - Lofthouse and Partners Ltd. Zoopla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Lofthouse and Partners Ltd for full details and further information.