Park Square Scunthorpe
£3,200,000
- For Sale

Built in 2003 to an exceptional design and build quality, the site comprises 5 blocks of two and three storey modern office accommodation within a gated estate development.

FULL DESCRIPTION

LOCATION
Situated in a highly visible location within a five minute walk of the town centre and less than a 5 minute walk to Scunthorpe railway station. Scunthorpe, nicknamed the Ďindustrial garden town í, is predominately an industrial town and the UK ís largest steel processing centre and located in North Lincolnshire with an estimated population of 82,000. The town has good links to all the major motorway networks via the M181, M180 and the M18 which provides easy access to the M1 and A1.

DESCRIPTION
Description
Built in 2003 to an exceptional design and build quality, the site comprises 5 blocks of two and three storey modern office accommodation within a gated estate development. Since construction the site has had over 90% occupancy and with many tenants having been in from the outset. Existing tenants include; the Probation Service, Symes Bains Broomer, (a regional firm of solicitors), C H Jefferson & Co, (a regional accountancy practice) and N Dakin (the areas í local MP). The site is well maintained with landscaped grounds, electric gates and good security lighting.

Rental Income
Total net income £292,027 plus £28,000 service charge
Total income £320,027 pa


ACCOMMODATION
Schedule of Units

1 Park Square
Tenant: Secretary of State for Housing, Communities & Local Government
Rent - £59,250
End of Lease - 06/03/2023
Break Clause - 06/03/2021 & 06/03/2022

2 Park Square
Tenant: Symes Bains Broomer Solicitors
Rent - £63,489
End of Lease - 28/09/2027
Break Clause - 28/09/2022

3 Park Square
Tenant: IFA Professional Planning
Rent - £12,400
End of Lease - 25/10/2022
Break Clause - 25/10/2020

3 Park Square, The Bellwood Suite
This area of the building is let under license and tenants only have to give 3 months notice.
Rooms 7-10 and 12 & 13 are currently let, room 11 is vacant.
Rent - £15,923

3 Park Square
Tenant: Inspire 2 Independence
Rent - £22,000
End of Lease - 15/12/2016 (Notice has been served)

3 Park Square
Tenant: Humberside, Lincolnshire & North Yorkshire Community Rehabilitation Company
Rent - £24,250
End of Lease - 31/01/2022
Break Clause - None

4 Park Square
Tenant: Creative Support
Rent - £10,474
End of Lease - 29/06/2021
Break Clause - (Notice has been served)

4 Park Square
Tenant: Creative Support
Rent - £14,000
End of Lease - 29/06/2021
Break Clause - 30/06/2019

5 Park Square
Tenant: Svenska Handelsbanken
Rent - £24,141
End of Lease - 26/11/2025
Break Clause - 26/11/2020

5 Park Square
Tenant: CH Jefferson & Co
Rent - £17,500
End of Lease - 31/01/2021
Break Clause - 31/01/2019

5 Park Square
Tenant: Kromat Trading
Rent - £6,000
End of Lease - 31/05/2019
Break Clause - None

5 Park Square
Tenant: N Dakin MP
Rent - £6,000
End of Lease - 21/07/2020
Break Clause - Upon death or General Election

5 Park Square
Currently Vacant




AMENITIES
.

SERVICES
Services
Mains gas, electricity, water and sewage are all available on site

VAT
All rents are liable for VAT at the standard rate.

PARKING NOTES
Car Parking
Parking facilities for over 100 vehicles.

VIEWING
By appointment

Howden Office
01430 431201

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