Geoffrey Rhodes Centre, Algernon Road, Newcastle Upon Tyne
Size
20,676
Tenure
Freehold
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- Primary use
- Healthcare
No floor / site plan
Key features
- A freehold investment opportunity
- Used for an NHS Clinic and NHS stores for distribution
- Let to NHS Trust on a new 5 year FRI lease expiring 31/03/2031
- Long term development potential (subject to consents)
- Established medical centre in strong location
- Site area approximately 0.98 acres
- Approx GIA - 20,676 sq ft (1,920 sq m)
- No VAT payable on purchase price
- Investment let at £100,000 per annum (9.09% GIY on guide price)
Description
The property is fully let to Newcastle City Health NHS Trust on a FRI lease for a term of 5 years from 01/04/2026.
Approx GIA - 20,676 sq ft (1,920 sq m).
Investment let at £100,000 per annum (9.09% GIY on guide price).
The property is located on the East side of Algernon Road an the North side of St Mark's Street in a predominantly residential area. Nearby occupiers include ASDA, JD Sports, Pets at Home, M&S, TK Maxx, B&M and many other retail shops, restaurants and cafes can be found closeby.
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- Listed building
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An Energy Performance certificate helps you understand the current energy efficiency of a property.
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- BREEAM rating
Unclassified
- Environmental description
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Geoffrey Rhodes Centre, Algernon Road, Newcastle Upon Tyne
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Disclaimer - Property reference 367149B0-7550-44C1-8238-1A70BA93C02A. 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 Savills National , Savills Auctions- Commercial. 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.