Lustrum Trade Park, Investment Sale, Cheltenham Road, Stockton on Tees TS18 2QQ

Stockton-on-Tees is a major commercial centre situated 5 miles west of Middlesbrough, with the two towns merging together to form part of the Teesside conurbation, along with Hartlepool and Billingham. The town lies 58 miles north of Leeds, 118 miles north east of Manchester and 35 miles south of Newcastle.


INVESTMENT SUMMARY

• Prominently located in a central and established trade counter, retail warehousing and industrial area.

• Situated 2 miles to the east of Stockton-on-Tees town centre, just off Portrack Lane (A1046) and adjacent to the A19.

• Stockton-on-Tees is a key commercial centre in the North East benefiting from an excellent catchment with 1.12m people living within a 30-minute drive time.

• Site area of 6.39 Acres (2.58 hectares)

• The scheme extends to 60,705 sq ft across 13 units and a yard area of 4.25 acres.

• Total passing rent of £337,932 per annum (£4.96 psf average rent on the units.)

• Established multi-let trade park with significant reversion to an ERV of £420,030 per annum (£6.25 psf - £7 psf on the units.)

• WAULT of 2.67 years to expiries and 1.82 years to breaks.

• Tenants include James Hargreaves (Plumbers Merchants) Ltd, GXO Logistics and Dean & Wood Ltd.

ERV
The total rental value of the entire estate is in the region of £420,030 per annum which reflects rents ranging between £6.25 psf - £7 psf on the units depending upon the unit size, condition and
location on the estate.

PROPOSAL
We are instructed to seek offers in excess of £4,100,000 (Four million, One hundred Thousand Pounds)
which reflects a net initial yield of 7.74% and a reversionary yield of 9.62% assuming normal acquisition costs of 6.54%.

Accommodation:
Unit A: 7,353.00 sqft
Unit B & G: 9,807.00 sqft
Yard: 185,130.00 sqft
Unit C: 7,384.00 sqft
Unit D: 7,281.00 sqft
Unit E: 2,439.00 sqft
Unit F: 2,426.00 sqft
Unit H: 2,205.00 sqft
Unit I: 3,129.00 sqft
Unit J: 3,133.00 sqft
Unit K: 3,119.00 sqft
Unit L: 3,126.00 sqft
Unit M: 3,129.00 sqft
Yard: 6,174.00 sqft
Total: 60,705.00 sqft