Marketed by
Naylors Gavin Black
Newcastle upon Tyne
Higham Pl, Newcastle upon Tyne NE1 8AF, UK
Available
1 of 4
Guide Price
£380,000
12, Octavian Way, Team Valley Trading Estate, Gateshead, NE11 0HZ
4663 sq. ft (433.21 m²)
Key features
- Rare opportunity to purchase a modern unit on Team Valley Trading Estate
- Let to Eurocell Building Plastics Limited (Co. No. 03071407) - £212m turnover / £22m shareholder funds. (2024 accounts)
- 3.5 years to expiry (1.5 years to break)
- Reversionary passing rent of £35,370 per annum (£7.58 psf)
- Tenant in occupation for over 15 years
- Long leasehold expiring 2115 (89 unexpired) at peppercorn rent
- Seeking offers in excess of £380,000 exclusive of VAT
- An offer at this level shows a net initial yield of 8.95% after standard purchaser costs
Description
The property consists of a mid-terraced warehouse unit of steel portal frame construction with block work walls and profile insulated cladding from 2m high and to the roof, which incorporates translucent panels. There is a single up/over loading door to the front of the unit.
Internally, the property is utilised for storage, with a small trade counter and office located to the front of the unit. The property also benefits from a small mezzanine floor, which is used for additional storage. The unit specification includes fluorescent tube lighting and gas heating, with an eaves height to the apex of 7m.
Externally, the property benefits from seven designated parking spaces together with a loading area.
Internally, the property is utilised for storage, with a small trade counter and office located to the front of the unit. The property also benefits from a small mezzanine floor, which is used for additional storage. The unit specification includes fluorescent tube lighting and gas heating, with an eaves height to the apex of 7m.
Externally, the property benefits from seven designated parking spaces together with a loading area.
Reference: 3381_sales
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Marketed by
Naylors Gavin Black
Newcastle upon Tyne
Higham Pl, Newcastle upon Tyne NE1 8AF, UK
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