Our North East agency team has been appointed to sell the freehold investment of George Stephenson House, a modern office building located in Teesdale Business Park.
The 40,000 sq ft building is occupied in full by The Secretary of State for Communities and Local Government and is in use by the Inland Revenue as a national tax office.
Strategically located to the south of Stockton town centre, Teesdale Business Park extends to over 700,000 sq ft of offices and two large educational campuses; Stockton Riverside College and Durham University Queen’s Campus.
Agent on the property Kevin McGorie commented, “George Stephenson House offers a really exciting proposition for investors with an attractive gross yield. What else would you like to add? And an opportunity to reposition the asset to add value in the future
We are inviting offers in the region of £4,000,000 for the property, a purchase at this level will reflect a yield of 18.54% after allowance of purchasers costs.