Newcastle House, Albany Court, Newcastle Business Park, Newcastle upon Tyne, Tyne and Wear, NE4

Offers in excess of £1500000.00

- Multi Let Out of town office Investment situated on a popular city fringe business park
- Combined passing rent £194,950 per annum reflecting a low £7.06 per sq ft increasing to £211,444 upon completion of the 2nd floor lease renewal from January 2024
- Strong asset management initiatives Including tenant relocation, refurbishment and re-letting opportunities
- WAULT of 1.26 to expiry increasing to 3.3 years to expiry and 2.3 to break on completion of lease renewal
- Totalling 31,571 sq ft with 71% occupied with a number of long standing tenants
- Excellent parking provision with 124 spaces providing a ratio of 1:254 sq ft
- Partial LED upgrade throughout the building
- Two passenger lifts from communal atrium
- Virtual Freehold, held on a 999 year long lease We have been instructed to seek offers in excess of £1,500,000 (One Million Five
Hundred Thousand Pounds) for our client's long leasehold interest. A purchase at this level reflects a NIY of 12.25% and a low capital value per sq ft of £47.51, reverting to 13.30% in January 2024 on completion of the lease renewal to Your Move UK.

Newcastle upon Tyne is the commercial and administrative capital of the North East of England and is 1 of 7 key regional cities in the UK. The city is situated 104 miles south of Edinburgh, 98 miles north of Leeds and 277 miles north of London. Newcastle has a resident population of around 300,000 people with a further 1.4 million living within 12 miles of the city centre.