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

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.