Peterlee office complex up for auction

A 70,000 sq ft office complex in Peterlee is going under the virtual hammer this month.

Landwood Property Auctions will seek a buyer for the detached Grade A property, located on Whitehouse Business Park, with a guide price of £725k.

The business park is already home to Bristol Laboritories, GT Group, Durham Constabulary and Sotech.

Landwood said the property for sale has parking for 385 cars and the potential to be subdivided into individual office units.

According to James Ashworth, director at Landwood, it could appeal to an expanding business or property investors who want to create an income by re-letting the space.

He explained: “This property is part of a larger development of six high-quality office buildings constructed in 2006, and yet it still feels incredibly modern.

“We’re acting for mortgagees and we’re sure that this lot’s location – being adjacent to the A19, one of the main routes linking Teesside with Tyneside – will appeal to many.”

A spokeswoman for the Peterlee Business Park Group said: “It would be fantastic to see this building brought back into use. It’s a prime location so should certainly have plenty of development appeal.”

Landwood’s next online auction is July 18.