{"loaderData":{"0-3":{"propertyListing":{"building":{"id":"760759940844529","summary":"The property comprises of a single storey detached industrial building of steel framed construction having brick/blockwork elevations to two metres with profiled metal cladding above. The roof is of pitched design and has profiled metal decking over, incorporating 5% translucent lights. The eaves height ranges from 5.5m to 6.7m at the apex. \n\nInternally, the warehouse is used for storage and distribution with racking throughout; there are two electric up/over shutter doors with a height of 4.9m and a width of 4m both doors go out to the yard/car park. The property benefits from a tenant-installed trade counter to the front, together with a first-floor office mezzanine. The unit is fitted with LED lighting throughout and 3-phase electricity. There is no heating within the warehouse area; however, the trade counter and office accommodation has electric wall heaters and an air conditioning unit.","archived":false,"description":"Location

The property is located within Team Valley Trading Estate, one of the North East's busiest and most important commercial estates. Team Valley covers a total area of approximately 238 hectares and provides in excess of 650,000 sq. m of commercial accommodation.

Eleventh Avenue North links with Eleventh Avenue which runs eastwards from Kingsway South. Junction 67 of the A1 Western Bypass is immediately to the south and is approximately half a mile from the subject property.

The property is situated on the western side of Eleventh Avenue North which runs north/south parallel and to the east of Kingsway. Kingsway is the main arterial route through Team Valley. Adjacent to the property include The Avenues and Perth Court which are multi let industrial estates with trade counter and storage operators.

Description

The property comprises of a single storey detached industrial building of steel framed construction having brick/blockwork elevations to two metres with profiled metal cladding above. The roof is of pitched design and has profiled metal decking over, incorporating 5% translucent lights. The eaves height ranges from 5.5m to 6.7m at the apex.

Internally, the warehouse is used for storage and distribution with racking throughout; there are two electric up/over shutter doors with a height of 4.9m and a width of 4m both doors go out to the yard/car park. The property benefits from a tenant-installed trade counter to the front, together with a first-floor office mezzanine. The unit is fitted with LED lighting throughout and 3-phase electricity. There is no heating within the warehouse area; however, the trade counter and office accommodation has electric wall heaters and an air conditioning unit.

Tenure Comments

The property is held on a 125-year lease from 25 August 1991 on a peppercorn rent.

The unit is currently let to HFD Limited on a 10- year FRI lease from 7 December 2021, at a passing rent of £43,400 per annum. There is an open market rent review and tenant break option on 7 December 2026. The current passing rent is relatively low, equating to £6.18 psf excluding tenants fitout.","disclaimer":{"raw":"Disclaimer - Property reference 3380FH. The information displayed about this property comprises a\n property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of\n the advertisement or any linked or associated information, and Rightmove has no control over the\n content. This property advertisement does not constitute property particulars. The information is\n provided and maintained by Naylors Gavin Black LLP, Newcastle Upon Tyne. Please contact the selling\n agent or developer directly to obtain any information which may be available under the terms of\n The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations\n 2007 or the Home Report if in relation to a residential property in Scotland.\n"},"transactionType":"SALES","amenities":[],"keyFeatures":["Rare opportunity to purchase on Team Valley Trading Estate
","Let to HFD Limited (Co. No. 02674152)","5.6 years to expiry, approx. 8 months to break
","Low passing rent of £43,400 per annum (£6.18 psf)
","Reversionary rent of £52,665 (£7.50 psf) without tenant fit out
","Tenant has been in occupation for over 25 years
","Long leasehold expiring 22 August 2116 (90 years unexpired) at peppercorn rent
","Seeking offers in excess of £475,000 exc. VAT showing a net initial yield of 8.74% after standard purchaser costs
","Reversion at rent review or to a new tenant of over 10.50% after standard purchaser costs
"],"environment":{"epcRating":null,"breeamRating":null,"environmentalDescription":null},"pricing":{"price":475000,"displayQualifier":"NONE","frequency":null,"rentObligation":null},"useClasses":[],"tenureType":null,"tenureYearsRemaining":null,"parkingSpaces":null,"yearBuilt":null,"yearRenovated":null,"listedBuilding":null,"numberOfFloors":null,"planningPermission":null,"businessForSale":false,"media":{"brochures":[{"uri":"property-brochure/bea06331f/760759940844529/bea06331f12445316793f79a6533ea6b.pdf","description":"Naylors Brochure - D12 Eleventh Avenue North"}],"photos":[{"uri":"property-photo/2b04f5767/760759940844529/2b04f5767ba42c682c8f5e884aeaaa42.jpeg","description":"Photo 16"},{"uri":"property-photo/3cda587ed/760759940844529/3cda587eda471130cb3f0d95c60bab6f.jpeg","description":"Photo 1"},{"uri":"property-photo/c4eadefb7/760759940844529/c4eadefb789190e71585088bc3b4f5e4.jpeg","description":"Photo 2"},{"uri":"property-photo/7d1bf6a4d/760759940844529/7d1bf6a4d932db7d6b640a823b6250f5.jpeg","description":"Photo 3"},{"uri":"property-photo/eb300d9a6/760759940844529/eb300d9a6a12d34a85b0343ee652554a.jpeg","description":"Photo 4"},{"uri":"property-photo/43d2a9b1b/760759940844529/43d2a9b1b7d670d03f0fae1b61bc1a92.jpeg","description":"Photo 5"},{"uri":"property-photo/b6dd31c79/760759940844529/b6dd31c7997a5df59bc70702a90a8e0a.jpeg","description":"Photo 6"},{"uri":"property-photo/c221d123f/760759940844529/c221d123f7219c30fbcff00a666b7c44.jpeg","description":"Photo 7"},{"uri":"property-photo/5ca9facfe/760759940844529/5ca9facfeb0e7f701fcae5f7ea6bf0df.jpeg","description":"Photo 8"},{"uri":"property-photo/2b04f5767/760759940844529/2b04f5767ba42c682c8f5e884aeaaa42.jpeg","description":"Photo 9"},{"uri":"property-photo/3cda587ed/760759940844529/3cda587eda471130cb3f0d95c60bab6f.jpeg","description":"Photo 10"},{"uri":"property-photo/c4eadefb7/760759940844529/c4eadefb789190e71585088bc3b4f5e4.jpeg","description":"Photo 11"},{"uri":"property-photo/7d1bf6a4d/760759940844529/7d1bf6a4d932db7d6b640a823b6250f5.jpeg","description":"Photo 12"},{"uri":"property-photo/eb300d9a6/760759940844529/eb300d9a6a12d34a85b0343ee652554a.jpeg","description":"Photo 13"},{"uri":"property-photo/43d2a9b1b/760759940844529/43d2a9b1b7d670d03f0fae1b61bc1a92.jpeg","description":"Photo 14"},{"uri":"property-photo/b6dd31c79/760759940844529/b6dd31c7997a5df59bc70702a90a8e0a.jpeg","description":"Photo 15"},{"uri":"property-photo/5ca9facfe/760759940844529/5ca9facfeb0e7f701fcae5f7ea6bf0df.jpeg","description":"Photo 17"},{"uri":"property-photo/9cd814ae8/760759940844529/9cd814ae871dd3552bf03d5d602fb3ce.jpeg","description":"Photo 18"},{"uri":"property-photo/c47a197e1/760759940844529/c47a197e12260c8b6f082cb8ba29a998.jpeg","description":"Photo 19"},{"uri":"property-photo/b7548cf8d/760759940844529/b7548cf8d7cf32dec8dc66e6fd9a6ce5.jpeg","description":"Photo 20"}],"floorPlans":[],"virtualTours":[],"videoTours":[],"epcs":[],"epcGraphs":[]},"sizing":{"unit":"SQFT","size":8450,"minSize":null,"measurementType":null,"maxSize":null},"location":{"displayAddress":"Unit D12, Eleventh Avenue North, Team Valley Trading Estate, Gateshead, NE11 0NJ","showMap":true,"postcode":{"incode":"0NJ","outcode":"NE11"},"streetView":null,"latitude":54.925991,"longitude":-1.608691},"nearestStations":[{"distance":2.0963463912183817,"name":"Dunston Station","types":["NATIONAL_TRAIN"],"unit":"miles"},{"distance":2.3399203861538913,"name":"Gateshead Stadium Tram Stop","types":["TRAM"],"unit":"miles"},{"distance":2.403270647445462,"name":"Felling Metro Station","types":["TRAM"],"unit":"miles"}],"agents":[{"name":"Naylors Gavin Black LLP, Newcastle Upon Tyne","email":null,"profileUrl":"/estate-agents/agent/Naylors/Newcastle-Upon-Tyne-100681.html","logo":"/partner-logo/13612096-LOGO-1772484745505.jpg","id":100681,"description":"

We are Naylors - we bring Real Estate, Real Value - to the North East. We are the North East's largest independent commercial property consultancy based in Newcastle upon Tyne. We bring a fresh, dynamic approach to the property market striving to offer the best possible results for our clients.

With decades of market experience on our side, our advice is underpinned with a thorough understanding of the commercial property market from the inside out. Clients come to us for our knowledge and intuitive understanding of the region’s property sector, and we always deliver. Our solid reputation is built on the recommendation of happy clients.

You will find our straight forward, open and honest approach refreshing. Experts in our respective fields, we work together to provide a first-rate joined up service across all sectors and focus on building strong, lasting relationships with our clients. We are, above all, a people business – our client’s needs are of the first and utmost importance.

At Naylors we believe that people who are specialists give the best advice. That’s why our services are broken down into specific areas, with each service led by a senior Naylors expert. It’s this structure which allows us to offer a bespoke service providing solutions across all property types. Our services include Property investment, Industrial Agency, Office Agency, Building Consultancy, Asset & Facilities Management, Valuations & Lease Advisory, Rating and Development Consultancy.

We are regional market leaders poised for progressive growth, yet we are loyal to our roots. Based firmly in the North East, we are owned, managed and run from Newcastle, it’s our home, our passion and the place we know best.

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