Marketed by
Naylors Gavin Black
Newcastle upon Tyne
Higham Pl, Newcastle upon Tyne NE1 8AF, UK
Under Offer
1 of 10
Guide Price
£475,000
Unit D12, Eleventh Avenue North, Team Valley Trading Estate, Gateshead, NE11 0NJ
8450 sq. ft (785.03 m²)
Key features
- Rare opportunity to purchase on Team Valley Trading Estate
- Let to HFD Limited (Co. No. 02674152)
- 5.6 years to expiry, approx. 8 months to break
- Low passing rent of £43,400 per annum (£6.18 psf)
- Reversionary rent of £52,665 (£7.50 psf) without tenant fit out
- Tenant has been in occupation for over 25 years
- Long leasehold expiring 22 August 2116 (90 years unexpired) at peppercorn rent
- Seeking offers in excess of £475,000 exc. VAT showing a net initial yield of 8.74% after standard purchaser costs
- Reversion at rent review or to a new tenant of over 10.50% after standard purchaser costs
Description
The property comprises of a single storey detached industrial building of steel framed construction having brick/blockwork elevations to two metres with profiled metal cladding above. The roof is of pitched design and has profiled metal decking over, incorporating 5% translucent lights. The eaves height ranges from 5.5m to 6.7m at the apex.
Internally, the warehouse is used for storage and distribution with racking throughout; there are two electric up/over shutter doors with a height of 4.9m and a width of 4m both doors go out to the yard/car park. The property benefits from a tenant-installed trade counter to the front, together with a first-floor office mezzanine. The unit is fitted with LED lighting throughout and 3-phase electricity. There is no heating within the warehouse area; however, the trade counter and office accommodation has electric wall heaters and an air conditioning unit.
Internally, the warehouse is used for storage and distribution with racking throughout; there are two electric up/over shutter doors with a height of 4.9m and a width of 4m both doors go out to the yard/car park. The property benefits from a tenant-installed trade counter to the front, together with a first-floor office mezzanine. The unit is fitted with LED lighting throughout and 3-phase electricity. There is no heating within the warehouse area; however, the trade counter and office accommodation has electric wall heaters and an air conditioning unit.
Reference: 3380_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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