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Unit 15 Chollerton Drive, North Tyne Industrial Estate, Whitley Road, Benton, Newcastle upon Tyne, Tyne and Wear, NE12

£1,870,000

£34.64 per sq ft

Business rates & charges may apply

Knight Frank, Newcastle - Commercial
SIZE AVAILABLE

53,988 sq ft

5,016 sq m

SECTOR

Distribution warehouse for sale

Key features

  • Investment

Description

Offers in excess of £1870000.00

• Single-let industrial facility extending to approximately 53,988 sq ft
• Located on North Tyne Industrial Estate, within 1 mile of the A19
• Let to BLP (Northern) Limited on a new 10 year lease from 3rd July 2023
• Annual rent of £160,000 per annum reflecting a modest £3.25 per sq ft
• ERV in 2023 of £221,035 per annum reflecting £4.50 per sq ft
• ERV in 2033 of £297,053 pa reflecting circa £6.04 per sq ft
• Long standing tenant having occupied the unit since 1990
• Long Leasehold

We have been instructed to seek offers in excess of £1,870,000 reflecting a capital value of £34.63 per sq ft, a NIY of 8.05%, an equivalent yield of 10.31%, a reversionary yield in 2033 of 14.87%


Newcastle upon Tyne is the commercial and administrative capital of the North East of England. 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 1.4 million people living within 12 miles of the city centre.

The unit forms part of the North Tyne Industrial Estate, which is situated immediately north of the A191 Whitley Road, approximately 4.1 miles northeast of Newcastle city centre.
The estate benefits from excellent communication links, having easy access to the region's main road network. The A19 trunk road is within 1 mile to the east with direct connection to the A1(M) a further 5 miles south. The A167(M), also known as the Newcastle Central Motorway is located approximately 3.8 miles southwest of the property.
Notable occupiers on the estate include Tile Giant, Screwfix, Howdens and Travis Perkins. A standalone Asda superstore sits directly adjacent to the entrance of the estate.

Brochures

Unit 15 Chollerton Drive, North Tyne Industrial Estate, Whitley Road, Benton, Newcastle upon Tyne, Tyne and Wear, NE12

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Palmersville Tram Stop0.3 miles
  • Northumberland Park Metro Station1.1 miles
  • Benton Metro Station1.4 miles

About Knight Frank, Newcastle - Commercial

St Anns Quay, 124 Quayside, Newcastle Upon Tyne, NE1 3BD

Knight Frank is the leading independent, global real estate consultancy providing an integrated prime commercial and residential offering, operating in key hubs across the globe.

Headquartered in London with 244 offices, employing more than 7,067 professionals and spanning five continents, Knight Frank provides the highest standards of quality and integrity in global residential and commercial property advisory services. Our reputation for uncompromising professionalism in everything we do is earned by serving our clients and earning their trust.

Founded in 1896 and a Limited Liability Partnership (LLP) since 2003, the firm’s 60 Equity Partners promote progressive growth through a strong corporate culture, helping us to recruit and retain the best people.

Advising clients ranging from individual private investors, clients and homeowners to major developers and investors, we put teamwork, innovation and our passion for property at the heart of everything we do, striving to go the extra mile to exceed our clients’ expectations.

Notes

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Disclaimer - Property reference NCC012330910. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Knight Frank, Newcastle - Commercial. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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