Plenary Bv House, Queens Square, Middlesbrough

LOCATION

The property is prominently situated on the east side of Queens Square within Middlesbrough’s Historic Quarter, a premier business location in the town centre. Middlesbrough Railway Station is just a short walk away, while the principal shopping district lies just 300 metres to the south. The property benefits from excellent road connectivity, with the A66 Trunk Road nearby providing fast access to the A19 and A1(M) motorway network.

Queens Square is a vibrant, mixed-use hub home to offices, bars, and residential developments. It sits in close proximity to key local landmarks, including the Law Courts, Middlesbrough College, and the Town Hall, and is well-served by public amenities.

The premises enjoy high visibility, boasting a prominent road frontage onto Queens Square and a return frontage along Lower Gosford Street.

DESCRIPTION

Steeped in local history, the premises were originally constructed in 1835 as a pair of houses by Middlesbrough’s founding fathers, Henry Bolckow and John Vaughan. Today, this Grade II Listed property functions as a characterful office building, arranged over two and three storeys, with the added benefit of secure rear parking for 16 vehicles and basement storage.

The building is configured to provide a variety of versatile office suites across three floors, complemented by shared kitchen and toilet facilities, alongside comprehensive storage space within the basement. Access to each floor and its respective office suites is provided via a central entrance hall and stairwell on the ground floor.

The property retains a wealth of historical charm, most notably featuring an exquisite Adam-style marble chimney piece recovered from the iconic Cunard liner, RMS Aquitania.

Further details regarding the history and significance of the building can be found via the below link:

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ACCOMMODATION

The property has the following approximate areas (NIA):

Basement stores 2,002 sq ft (186.00 sq m)

Ground floor offices 2,286 sq ft (212.40 sq m)

First floor offices 2,173 sq ft (201.90 sq m)

Second floor offices 1,784 sq ft (165.70 sq m)

Total (NIA) 8,245 sq ft (766.00 sq m)

RATEABLE VALUE

The property is currently assessed on an office-by-office basis. Interested parties are advised to contact Middlesbrough Council directly to verify the exact business rates payable.

TENURE

The property is part let to the following tenants:

Better Brand Agency Limited – Marketing agency in occupation of several ground floor office suites.

Resolution Media and Publishing Limited – Publishing company in occupation of a first floor office suite.

VEDA Associates Limited – Engineering company in occupation of a first floor office suite.

Logic Architecture Ltd - Architectural company in occupation of several second floor office suites.

The property currently generates a total gross rent of £85,905.48 per annum exclusive. The existing leases are drawn on all-inclusive terms and are currently running on rolling contracts. An additional contribution is made by tenants towards IT services.

We estimate the total gross market rent to be in the region of £110,000 per annum upon full occupancy, offering significant reversionary potential.

Full documentation is available upon request.

OPPORTUNITY

The freehold investment is available to purchase subject to the existing leases at an asking price of £750,000 plus VAT.

VAT

The property is elected for VAT and consequently VAT will be payable on the purchase price.
 
VIEWING

Strictly by appointment through this office only.

Contact – Jack Robinson
Email -
Tel -

Subject to Contract