Tyne Mills Industrial Estate, Hexham, Northumberland, NE46

LOCATION

Hexham is a thriving market town, lying adjacent to the A69 Trans-Pennine route, which provides access to the A1 trunk road some 20 miles to the east. Carlisle lies around 38 miles to the west and Newcastle upon Tyne City centre around 23 miles to the east. The town also lies on the main railway line between Newcastle upon Tyne and Carlisle and is an important retail, commercial and tourist centre. Tyne Mills Industrial Estate is strategically located in Hexham, immediately adjacent to key transport hubs like the railway station and near major public and commercial services. Its central position makes it ideal for businesses, local Government operations and logistics, all while being well-supported by nearby amenities.

DESCRIPTION

The property comprises five small light industrial units arranged in two blocks and of brick construction, partly under fibrous cement pitched roofs. The rear of part has a mineral felt roof which was renewed in 2025. The properties are occupied and used for a mix of engineering, storage and vehicle repair purposes. There is a shared yard to the front of the property.

ACCOMMODATION

The following net internal areas have been taken from the VOA assessment and are subject to on site verification.

Unit 1

78.04 sq m (840 sq ft)

Unit 2

75.25 sq m (810 sq ft)

Unit 3

144.93 sq m (1,560 sq ft)

Unit 4

146.32 sq m (1,575 sq ft)

Unit 5

146.32 sq m (1,575 sq ft)

TOTAL

590.86 sq m (6,360 sq ft)

TENANCIES

Current rent

Unit 1

£5,040 per annum

Unit 2

£4,738 per annum

Unit 3

£9,360 per annum

Unit 4

£9,450 per annum

Unit 5

£9,450 per annum Passing rents are based on a rate of around £6 per sq ft per annum. We believe there is scope to increase the passing rents in accordance with the provision of the lease terms. Tenants are responsible for internal repair. The landlord is responsible for external repair and insurance. In addition to the rent, each tenant also pays a fixed amount equivalent to 10% of the annual rent as a contribution towards any costs the landlord incurs in carrying out repairs to the property and obtaining building insurance.

BUSINESS RATES

The property is entered into the rating list as follows:

Unit 1

Description:

Workshop & premises Rateable value£5,800

Unit 2

Description:

Workshop & premisesRateable value£5,600

Unit 3

Description:

Workshop & premisesRateable value£9,000

Unit 4

Description:

Vehicle repair, workshop & premisesRateable value£10,500

Unit 5

Description:

Store & premisesRateable value£10,250

PRICE

£500.000.

sale at the asking price equates to a gross initial yield of 7.61%. Based on a projected rent of £7.50 per sq ft per annum, a sale at the asking price would equate to a reversionary yield of around 9.5% gross. The property is registered for VAT. It is envisaged the sale would be dealt with by way of a Transfer of a Going Concern.

VIEWING

Strictly by appointment by sole agents youngsRPS. Contact Paul Fairlamb or Chris Pattison Tel:

LEGAL COSTS

Each party is to bear their own legal costs.

LOCAL AUTHORITY

Northumberland County Council, County Hall, Morpeth, NE61 2EF. Tel: All figures quoted above are exclusive of VAT where chargeable. ENERGY PERFORMANCE CERTIFICATE The properties have the following EPC ratings:

Unit 1

E-119

Unit 2

C-74

Unit 3

E-103

Unit 4

D-93

Unit 5

C-74 Copies of the Energy Performance Certificates and Recommendation Reports are available on request.