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Industrial for sale

Hadrian Works, Wellington Road, Gateshead, NE11 9JL
Contact Agent
Call Agent 0191 232 7030
Naylors Gavin Black 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
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Hadrian Works, Wellington Road, Gateshead, NE11 9JL
Hadrian Works, Wellington Road, Gateshead, NE11 9JL
Hadrian Works, Wellington Road, Gateshead, NE11 9JL
Hadrian Works, Wellington Road, Gateshead, NE11 9JL
Hadrian Works, Wellington Road, Gateshead, NE11 9JL
Hadrian Works, Wellington Road, Gateshead, NE11 9JL
Hadrian Works, Wellington Road, Gateshead, NE11 9JL
Hadrian Works, Wellington Road, Gateshead, NE11 9JL
1 of 8
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Guide Price
£900,000
Hadrian Works, Wellington Road, Gateshead, NE11 9JL

12357 sq. ft (1148 m²)

Contact Agent Call Agent 0191 232 7030

Key features

  • Located in a prominent industrial trade counter location
  • Within 2 minutes drive of the A1
  • Total site area is 1.05 acres (0.42 hectares)
  • 3.71 years to expiry (2.03 years to break)
  • Low overall passing rent of £86,800 per annum (£6.82 psf)
  • Reversionary rent estimated to be £98,856 per annum (£8 psf)
  • Potential for further reversion subject to refurbishment
  • Seeking offers over £900,000 exclusive of VAT showing a net initial yield of 9.13% after standard purchaser's costs. This shows a low capital value of £72.83 psf
  • Potential reversion to over 10%

Description

There are four units within the 1-acre site.
The larger blue unit at the front of the site, fronting the main road, is of a steel portal frame construction with brick/blockwork elevations
to approximately two metres and profiled metal cladding above. The roof is of pitched design with single-skin profiled metal decking. The unit has an eaves height of approximately 3.88m, rising to 5.10m at the apex, and benefits from an electric roller shutter door measuring approximately 4.18m high by 3.84m wide. Internally, the accommodation is divided into a number of production rooms,
offices, W.C. facilities and a kitchenette, with fluorescent strip lighting and gas-fired heating throughout. There is also a warehouse area,
incorporating a mezzanine storage area.
Units B and C comprise a single industrial building that has been split into two units. The building is of steel portal frame construction with brick/blockwork elevations to approximately two metres and profiled metal cladding above and a pitched roof with profiled metal decking incorporating approximately 5% translucent roof lights. The eaves height is approximately 10.75m in Unit B and 9.75m in Unit C. Both units are fitted with manual roller shutter doors, with Unit B's door measuring approximately 5.80m high by 4.60m wide and Unit C's measuring approximately 5.52m high by 4.62m wide. Internally, the units provide standard industrial accommodation with LED lighting throughout and a mezzanine floor for extra storage.
To the front of the site is a separate building that was formerly used as office accommodation but is now utilised for storage purposes.
The building is of steel portal frame construction with brick/blockwork elevations beneath a pitched roof clad in profiled steel sheeting. Internally, it is fitted with fluorescent strip lighting, gas fired heating and W.C. facilities.
Reference: 3444_sales
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All commercial properties for sale in Gateshead
Naylors Gavin Black 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

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