Key features
- 0.5 mile from A692
- 11.8 miles from Durham Railway Station
- 15 miles from Newcastle city centre
- 9.7 miles from A1(M)
- Asset management opportunities
- Floor Area Approximately 3,432m2 (37,158ft2)
- Future development potential
- Gross Rental Income Approximately £325,000 per annum
- Investment opportunity
- Mixed use including offices, workshops and storage units
Description
OPPORTUNITY
Bradley Hall is delighted to be appointed to market this prestigious business park, located within Consett. The site is currently occupied on a multi let basis, with over 65 different tenants, totalling an annual rental income of £357,156.
LOCATION
The subject property is located within Derwentside, Consett, a district within County Durham.
The property benefits from a roadside position, located just off the A692 directly linking the site with the A1, providing easy access to the cities of Durham, Newcastle and beyond.
The property also lies within walking distance of Consett town centre, with a range of local amenities at its disposal.
DESCRIPTION
The site totals approximately 5.94 acres of land, and comprises a multi-let business centre, offering high quality office space, light industrial workshops, self-storage units and conference facilities.
There are asset management opportunities to maximise revenue due to low site coverage, utility cost savings, building cost savings, lease re-gears and further development potential for a variety of uses, both commercial or residential.
Net Annual Rent after operation costs in the previous 12 months offers an attractive return on investment with a net initial yield of 10.05%.
ACCOMMODATION
The tenant mix comprises a multitude of uses. A schedule of accommodation and rents is available upon request.
The building comprises 3,432 m2 (37,158 ft2).
Floor plans are also available on request.
TENURE
The site is sold freehold.
TERMS
We are instructed to invite freehold offers in the region of £1,100,000 for our clients freehold interest.
Our client does not have to accept the highest nor any offer submitted to the agent.
VAT
All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall on this basis, and where silent, offers will be deemed net of VAT.
LEGAL COSTS
Each party is to bear their own legal costs involved in the transaction.
ANTI-MONEY LAUNDERING REGULATIONS
In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.
VIEWING & FURTHER INFORMATION
For all enquiries and viewing arrangements please contact Bradley Hall.
Tel: 0191 383 9999
Email: [email protected]
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