Opportunity to acquire an established, fully let multi-let workspace investment comprising two adjoining former industrial buildings.
Combined total of 47 units and storage stores, providing approximately 9,449 sq ft (890 sq m) net internal area, within a combined Gross Internal Area of approximately 13,294 sq ft (1,235 sq m).
Let entirely on flexible monthly rolling licence agreements to a diverse range of creative, music, wellness and office occupiers.
100% occupied.
Established waiting list of prospective occupiers, providing a ready-made pipeline of replacement income.
Combined current income of £155,989.14 per annum, exclusive of VAT.
Prominent position within an established industrial and business estate on the corner of the Coast Road (A1058) and Benfield Road, approximately 2.5 miles east of Newcastle city centre.
Masonry and steel frame construction, with both buildings arranged over a single ground floor.
On-site car parking, with approximately 14-16 spaces at Business Works and 8 spaces at Clothworks Business Centre.
Genuine active management opportunity with potential for further rental growth.