Dodds Brown property firm sells Stockton building for over £1.5m
Teesside’s independent commercial property consultants, Dodds Brown has sold a 25,000 sq ft office building in Stockton-on-Tees for more than anticipated.
Acting on behalf of a private client, Stephen Brown - Dodds Brown senior partner - has sold the freehold of Innovation House, Stockton on Tees - a 24,477 sq ft, three-storey office building on a 3.5 acre site - to the Witherslack Group for a sum in excess of the quoting price of £1.5m.
Situated close to the A66, Innovation House was constructed in the 1960s and has been substantially refurbished to provide quality office accommodation with extensive car parking and lawned areas on a 3.5 acre site.
It is understood that the Witherslack Group intends to convert the existing building and site into a special needs school.
Mr Brown, who has worked in commercial property in Teesside for more than 30 years, said: “In the current market it is a real achievement to realise more than the asking price for any office building.
“Innovation House is in a good location, near to the A66, Preston Farm Business Park and a burgeoning retail and leisure area on Yarm Road itself, anchored by the new Lidl store.
“As a result, we had considerable interest in the property from a range of users and developers.”
From its offices in Middlesbrough, Dodds Brown LLP is the largest independent commercial property surveying practice headquartered in Teesside.
It offers commercial property services and local market knowledge across Teesside and the Tees Valley. The firm has been trading for more than 125 years and its senior management team has in excess of 100 years combined experience.