Summary
Landmark riverside building
Investment Summary
Rialto Court is a landmark riverside building located in a central position within Stockton-On-Tees, County Durham, occupying a prominent position on Bridge Road, alongside the River Tees. The property is well located for the Durham University Queen's campus which houses both John Snow College and Stephenson College, and the new international Study Centre opening in September 2017. Rialto Court is approximately 10 minutes walking distance from the town centre retail and leisure amenities.
• 382 en-suite bed spaces in a prominent, modern scheme in Stockton-On-Tees
• Nominations Agreement with Durham University for the entire building until September 2019
• Annual reviews directly proportional to those made by the University
• The University underwrites all of the core term income which currently totals circa £2.0 million gross
• There is an opportunity to implement a new Nominations Agreement with the International Study Centre, post September 2019
• Potential to change the property's use (stp) to traditional residential, hotel and leisure accommodation in 2019 and beyond
Proposal
JLL is inviting offers on an unconditional basis for the freehold interest in this asset.Selling on behalf of Ryan Grant, Simon Wilson and Anne O'Keefe as the Joint Administrators of Bournston (Stockton) limited, acting without personal liability.