Well Secured, High Yielding Office Investment on behalf of Administrators

Telecom House | Princess Way | Prudhoe | Northumberland | NE42 6NJ


subject to contract

Click To Purchase


  • To be sold by clicktopurchase® Best Offers by 2.00pm on Monday 14th February 2022, unless sold prior

  • On behalf of Administrators, acting as agent without personal liability

  • Modern office investment

  • Secure income – let to Daisy Communications (Net Assets £95.8m)

  • Let until May 2027

  • Freehold

  • £2,700,000, subject to contract

  • 12.1% Net Initial Yield

  • Rising to a guaranteed 13.1% in May 2022

  • Low Capital Value of £1,550 per sq m / £144 per sq ft



Prudhoe is located in Northumberland, approximately 18 km (11 miles) west of Newcastle upon Tyne and 35 km (22 miles) north-west of Durham.

Prudhoe benefits from good road communications being linked to Newcastle upon Tyne and the A1 by the A69. The town is also connected to the national railway network with a fastest journey time to Newcastle of 20 minutes. Newcastle Airport is approximately 11 miles to the north-east.

Prudhoe Castle, dating back to the 1066 Norman conquest, is a popular visitor attraction.


The property is situated immediately adjacent to Prudhoe railway station and is accessed via Princess Way, close to its junction with Station Road. The access from Princes Way also serves a residential block of apartments, Brock House.

Prudhoe town centre is approximately 0.8 km (0.5 miles) to the south-east. The property is within an established commercial area with surrounding uses also comprising residential.

Tyneview Retail Park, a new retail and roadside development fronting Princes Way, is approximately 1.6 km (1 mile) to the east of the subject property. Extending to approximately 75,329 sq ft with 435 car parking spaces, the park consists of a number of national retailers including a 19,000 sq ft Aldi food store, a 22,000 sq ft B&M Homestore including a 75,000 sq ft garden centre, Greggs, McDonald’s and restaurant Café Ginevra. The retail park will also be complimented by additional retail and a drive-thru restaurant. The scheme has been developed by Prudhoe Estates, a joint partnership between Advance Northumberland and Northumberland Estates. It is anticipated that this new scheme will help attract new trade for the town, creating around 200 jobs.



The property comprises a modern, purpose built office building constructed in 2006, of steel framed construction with a pitched, profile metal sheeting clad roof. The property occupies a self-contained site with the benefit of 133 car parking spaces.

Arranged over ground and two upper floors, the internal specification includes suspended ceilings, raised floors, double glazing, ceiling mounted air conditioning units, 8-person passenger lift, male, female and disabled WC’s at each floor.


The property has been measured by BKR Floor Plans and provides the following Net Internal floor areas:

Ground Floor 7,128 sq ft 662.19 sq m
First Floor 7,238 sq ft 672.41 sq m
Second Floor 4,378 sq ft 406.72 sq m
Total 18,744 sq ft 1,741.32 sq m

A set of floor plans is available to download and the measured survey report will be re-addressed to a purchaser at a cost of £575.00 + VAT.



A Phase I Environmental Assessment was undertaken by Avison Young in December 2021 which concluded that “the site represents a Low Environmental Risk”. A copy of the report is available to download and will be assigned to a purchaser at a cost of £2,000 + VAT.





The property is entirely let to Daisy Communication Limited (No. 04145329) for a term expiring 28th May 2027.

The property was originally let from 29th May 2007 until 28th May 2022 at an initial rent of £355,000 with rent reviews based upon the higher of a multiplier of 3% per annum compound, or the increase in the Retail Price Index. However, we are advised that the tenant has been charged £347,782.20 per annum although the new managing agents, acting on behalf of the administrators, are unaware why this charge has been lower than the rent stated within the lease.

The original lease ended 28th May 2022. However, a reversionary lease was entered into in October 2013 for a term from 29th May 2022 until 28th May 2027 at an initial rent of £375,000 per annum.


Daisy Communications Limited (Co. No. 04145329), has reported the following figures;

  31st March 2020 31st March 2019
Turnover £189,049,000 £195,134,000
Pre-Tax Profits £6,263,000 £477,000
Net Assets £95,804,000 £89,103,000

Daisy Communications is one of the largest independent telecommunications providers in the United Kingdom.

Established in 2001, the company assists approximately 88,000 customers – businesses of all sizes and across almost every sector – connect better with their customers, suppliers and teams. As an independent provider the company works with all of the major telecommunications networks and suppliers. In 2005 Daisy was named the fastest growing technology business in the UK and in 2007 the company’s founder and chairman Matthew Riley won the Bank of Scotland’s Entrepreneur Challenge.

Employing approximately 550 staff, the company’s headquarters is in Nelson, Lancashire with additional offices in Aston, Basildon, Nottingham and Prudhoe.

For further information visit www.daisycomms.co.uk.



It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC) and the purchaser will be required to submit the appropriate election to HMRC. It should be noted that the administrators may not hold documentation to prove VAT election at the point of completion.


We are instructed to seek a figure of £2,700,000 (Two Million, Seven Hundred Thousand Pounds), subject to contract, reflecting a net initial yield of 12.1%, rising to 13.1% in May 2022, assuming standard purchaser’s costs of 6.41%, and a low capital value of £1,550 per sq m / £144 per sq ft.

Please note that a purchaser will be re-charged the costs of the measured survey (£575 + VAT), environmental survey (£2,000 + VAT) and searches (£358.23) which are provided in the data room.

Please note that the adjoining residential investment Brock House (click here) is also being offered for sale. Hence, the opportunity exists to purchase both investments.


Investment Considerations

  1. An opportunity to acquire a high-yielding office investment;

  2. A modern, purpose-built office building with the benefit of 133 car parking spaces;

  3. The investment provides secure income, being let to Daisy Communications Ltd (Net Assets £95.8 million);

  4. Let until May 2027;

  5. Freehold;

  6. A purchase at the asking price reflects an attractive yield profile and low capital value.


The affairs, business and property of the Company is being managed by the Joint Administrators Andrew Knowles and Steven Muncaster, who act as agents for the Company and without personal liability. Both are licensed by the Insolvency Practitioners Association and are bound by the Insolvency Code of Ethics.


Data Room and clicktopurchase®

Access to the data room and for the ability to purchase online with speed and ease, please click the clicktopurchase® “C” icon or the clicktopurchase® side bar. Purchasers will be able to access the complete legal package, clear verification and submit legally-binding offers to acquire the property.

Purchasers benefit from the trust, security and transparency provided by the platform. All activities, including the online contract execution, will form part of the electronic audit trail which is anchored in the clicktopurchase® Blockchain.

clicktopurchase® provides the opportunity for any investor, whether located UK or abroad, to uniquely purchase online with ease and certainty. To learn more about clicktopurchase®, click here.

Contact Us

Singer Vielle   +44 (0) 207 935 7200
Dale Henry dale@singervielle.co.uk +44 (0) 203 701 1356
Neil Singer neil@singervielle.co.uk +44 (0) 203 478 9120
Daniel Elia daniel@singervielle.co.uk +44 (0) 20 3701 1353

Vendors Solicitor

Field Fisher  
Daniel Steele daniel.steele@fieldfisher.com