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UNDER OFFER

6 Diamond Court, Newcastle Upon Tyne, Tyne and Wear, NE3 2EN

£215,000

£154.79 per sq ft

Business rates & charges may apply

Naylors Gavin Black LLP, Newcastle Upon Tyne
SIZE AVAILABLE

1,389 sq ft

129 sq m

SECTOR

Land for sale

Key features

  • Fully let to the substantial covenant of Kintetsu World Express (UK) Limited (CRN 01888371)
  • Let by way of a five-year lease which expires on 22nd November 2028. (Three and a half years unexpired)
  • 8 dedicated parking spaces
  • Passing rent - £17,750 per annum
  • Fully let Office Scheme
  • Excellent location just off A1 and walking distance of Tyne and Wear Metro
  • Ideal for Pension Fund Purchase
  • Offers sought in excess of £215,000, which equates to a net initial yield of 8.06%, after allowing for purchasers' costs

Description

Location

The Kingston Park office development is found at the end of Beaminster Way East in the commercial heart of the Newcastle suburb of Kingston Park. There are major office, industrial and retail schemes close by and the A1 trunk road linking London and Scotland runs adjacent. Newcastle International Airport is just 3.5 miles to the north west of the property. Close by occupiers include M&S, TK Maxx, McDonalds.

Description

The offices at Kinston Park comprises a development of a number of own front door offices around a courtyard with on-site parking. The building comprises an attached property over ground and first floor benefiting from suspended ceilings, carpeting and double glazed windows.

Tenure Comments

The property is held by way of a long term ground lease expiring on 27th September 2137 at a ground rent of £100per annum.

In turn the property is let to Kintetsu World Express (UK) Limited (CRN 01888371) by way of a renewal lease for a term of 5 years from 23rd November 2023 and expiring 22nd November 2028.

Brochures

6 Diamond Court, Newcastle Upon Tyne, Tyne and Wear, NE3 2EN

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Kingston Park Metro Station0.4 miles
  • Bank Foot Metro Station0.7 miles
  • Fawdon Metro Station0.9 miles

About Naylors Gavin Black LLP, Newcastle Upon Tyne

One Strawberry Lane Newcastle Upon Tyne NE1 4BX

As commercial property specialists for the North East, Naylors have their head office in the heart of Newcastle. The firm was founded twenty years ago by Bill Naylor, managing director, and has retained its independence, growing to become one of the most respected practices in the area.

This is reflected in Naylors being invited to represent the North East through membership of PAI, a prestigious organisation of like-minded professionals covering most of the Uk.

Today, Naylors handle a wide range of commercial and industrial properties in an area that stretches from Yorkshire to Northumberland and beyond. Our client list includes every kind of organisation from public bodies and national chains to local SME companies.

It is the quality of our people that makes the difference. Fully qualified professionals with a commitment to their clients’ interest and the in-depth knowledge to provide a tailor-made service.

Notes

These notes are private, only you can see them.

Disclaimer - Property reference 3217FH. 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 Naylors Gavin Black LLP, Newcastle Upon Tyne. 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.

Map data ©OpenStreetMap contributors.

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