Industrial for sale

Unit 4, Fisher Industrial Estate, Fisher Street, Newcastle Upon Tyne, NE6 4LT

Contact Agent

Call Agent 0191 232 7030

Marketed by

Naylors Gavin Black Newcastle upon Tyne

Higham Pl, Newcastle upon Tyne NE1 8AF, UK

Properties for sale Properties to let

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Unit 4, Fisher Industrial Estate, Fisher Street, Newcastle Upon Tyne, NE6 4LT

1 of 5

Guide Price

£365,000

Unit 4, Fisher Industrial Estate, Fisher Street, Newcastle Upon Tyne, NE6 4LT

10937 sq. ft (1016.08 m²)

Contact Agent Call Agent 0191 232 7030

Key features

Rarely available unit on Fisher Industrial Estate
Let to Northern Stage (Theatrical Productions) Limited (Company No. 02187213)
4.58 years to expiry (2.58 yrs to break)
Total GIA of 10,937 sq. ft (1,016 sq. m)
Very low passing rent of £38,500 per annum (£3.52 psf)
Reversionary rent of £71,000pa (£6.50 psf)
Tenant in occupation since 2017
Long leasehold expiring 28 February 2079 (53 years unexpired) with a current ground rent of £1,509 per annum
Seeking offers in excess of £365,000 exc. VAT showing a net initial yield of approx. 9.75% off the net rent of after standard purchaser costs. This shows a very low capital value of £33.37 psf

Description

The building is of steel portal frame construction with brick/blockwork elevations to approximately 2 metres, with metal profile cladding beneath a pitched single-skin metal clad roof. We understand that works of repair to the roof have been carried out in the last 24 months.
Internally, the warehouse benefits from gas-fired heating, while the office accommodation is fitted with air conditioning. There is lighting throughout which is a mix of fluorescent tube and box fittings. A mezzanine floor provides additional storage accommodation within the warehouse, and the property also benefits from approximately six demised car parking spaces externally.
The tenant currently uses the unit for storage and a workshop purposes.

Reference: 3448_sales

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All commercial properties for sale in Newcastle-upon-tyne

Marketed by

Naylors Gavin Black Newcastle upon Tyne

Higham Pl, Newcastle upon Tyne NE1 8AF, UK

Properties for sale Properties to let