Marketed by
Naylors Gavin Black
Newcastle upon Tyne
Higham Pl, Newcastle upon Tyne NE1 8AF, UK
New
1 of 10
Guide Price
£4,250,000
SMD Building, Oceana Business Park, Davy Bank, Wallsend, NE29 6UZ
87119.91 sq. ft (8093.71 m²)
Key features
- SMD Limited (Soil Machine Dynamics): Over 50 years of expertise in the subsea engineering sector
- Site coverage just 28.2%
- Freehold
- Part built in 2011 and the remainder in 2014
- Direct access to SMD's head office and second manufacturing unit, both owned freehold by SMD
- Direct access to Deep Water Dock access on adjacent plot
- Let to Soil Machine Dynamics Limited unit June 2039 (tenant break option in June 2034) with uncapped RPI uplifts in 2029 and 2034
- FRI lease with NO Schedule of Condition
- Offers in excess of £4,250,000 exc. VAT. Attractive net yield of 6.73% rising to 7.88% in 2029 (based on UK inflation date and OBR predictions)
Description
The property comprises a 2.28-acre (0.92 ha) industrial site featuring a single manufacturing unit with integrated office and welfare facilities, alongside extensive hardstanding areas.
The unit is used for the manufacture and storage of subsea equipment, supporting operations from SMD's adjacent freehold offices and manufacturing buildings.
Significant investment has been made in the production area, and the offices and welfare facilities have also recently been upgraded to a high standard.
There is direct access to the adjacent deepwater dock which is mission critical to the occupiers operation.
- 16.5m clear height to haunch in the higher bay, 12.5m in the lower bay-
- 2 x 50-tonne cranes and 2 x 25-tonne cranes installed, with 8m clear working heigh
The unit is used for the manufacture and storage of subsea equipment, supporting operations from SMD's adjacent freehold offices and manufacturing buildings.
Significant investment has been made in the production area, and the offices and welfare facilities have also recently been upgraded to a high standard.
There is direct access to the adjacent deepwater dock which is mission critical to the occupiers operation.
- 16.5m clear height to haunch in the higher bay, 12.5m in the lower bay-
- 2 x 50-tonne cranes and 2 x 25-tonne cranes installed, with 8m clear working heigh
Reference: 3449_sales
Download Sales Details
Marketed by
Naylors Gavin Black
Newcastle upon Tyne
Higham Pl, Newcastle upon Tyne NE1 8AF, UK
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