Scotswood Road, Newcastle Upon Tyne, NE4

The property is a modern, retail/warehouse unit of steel portal frame construction with profiled metal cladding to elevations beneath a pitched roof. The property is configured to provide 4 prominent trade counter/showroom units with full-height glazed frontage.

Unit 1 is let to Porcelanosa UK Limited at a passing rent of £45,000 per annum (£9.43 psf).

Unit 2 is let to Ultimarisa Ltd at a passing rent of £35,250 per annum (£8.50 psf).

Unit 3&4 is let to Nemart Limited at a passing rent of £30,000 (£3.31 psf).

Combined passing rent of £110,250 per annum.

Unit 1 is let to Porcelanosa UK Limited at a passing rent of £45,000 per annum (£9.43 psf).

Unit 2 is let to Ultimarisa Ltd at a passing rent of £35,250 per annum (£8.50 psf).

Unit 3&4 is let to Nemart Limited at a passing rent of £30,000 (£3.31 psf).

The property is held on a long leasehold of 125-years from 23rd January 2004 (c. 103 years unexpired) from The Council of the City of Newcastle Upon Tyne (Title Number TY411494). A ground rent of £11,000 per annum is payable, of which 46.01% is recovered from the leases of Units 1 & 2.

We are instructed to seek offers in excess of £1,360,000 (One Million, Three Hundred and Sixty Thousand) subject to and exclusive of VAT.

A purchase at this level reflects a Net Initial Yield of 7.65% and a Capital Value of £75.57 psf assuming Purchaser’s Costs of 6.03%.

For further information please contact William Reavley on william.