Derwent House, Lakeside Court, Fifth Avenue, Team Valley Trading Estate, Gateshead, Tyne and Wear, NE11 0NL

Location

Team Valley is adjacent to the A1 Western Bypass and offers excellent access to Newcastle City Centre and the wider conurbation. The estate also benefits from over 34 buses per hour.

Team Valley is home to over 700 businesses across industrial, office and retail accommodation exceeding 6.5m sq ft.

There is an excellent range of retail and leisure amenities including Retail World which has an M & S Food, Boots, Valley Parade, The Valley Farm Pub/Restaurant and at Maingate there is a hotel, health club and various retail outlets.

Derwent House is the first building on Fifth Avenue Business Park which links directly with Queensway North.


Description

Brick built, self contained office building with the following specification:
Cassette air conditioning
LED light fittings
Good decoration and carpeting
Partitioned offices and meeting rooms
Kitchen on each floor
WCs
20 car parking spaces


Tenure Comments

125 years from 05/08/1991 at a peppercorn rent with 92 years unexpired.



Service Charge

The current budget is £1.37 psf

EPC

The property has a rating of C(75).

Rateable Value

According to the VOA website the rateable value is £42,000.

Legal Costs

Each party to be responsible for their own legal costs incurred in this transaction.