12 , Octavian Way, Team Valley Trading Estate, Gateshead , NE11 0HZ
Size
0.1070
Tenure
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EPC
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Parking
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- Primary use
- Land
- Other use(s)
- Light industrial
No floor / site plan
Key features
- Rare opportunity to purchase a modern unit on Team Valley Trading Estate
- Let to Eurocell Building Plastics Limited (Co. No. 03071407) - £212m turnover / £22m shareholder funds. (2024 accounts)
- 4.8 years to expiry (1.8 years to break)
- Reversionary passing rent of £35,370 per annum (£7.58 psf)
- Tenant in occupation for over 15 years
- Long leasehold expiring 2115 (89 unexpired) at peppercorn rent
- Seeking offers in excess of £435,000 exclusive of VAT
- An offer at this level shows a net initial yield of 7.79% after standard purchaser costs
Description
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.
Octavian Way is located in the south west quadrant of Team Valley Trading Estate close to Retail World and approximately 4.5 miles south of the Newcastle/Gateshead conurbation and has direct access onto the A1 trunk road linking the north and Scotland with the Midlands and south.
The property is situated on Octavian Way off Dukesway. The neighbouring occupiers are predominantly trade counter and warehouse users including Crown Decorating and NEPS Logistics. Retail World is a one-minute drive time and home to many national retailers including M&S, Currys, Halfords, B&M and Sports Direct.
Description
The property consists of a mid-terraced warehouse unit of steel portal frame construction with block work walls and profile insulated cladding from 2m high and to the roof, which incorporates translucent panels. There is a single up/over loading door to the front of the unit.
Internally, the property is utilised for storage, with a small trade counter and office located to the front of the unit. The property also benefits from a small mezzanine floor, which is used for additional storage. The unit specification includes fluorescent tube lighting and gas heating, with an eaves height to the apex of 7m.
Externally, the property benefits from seven designated parking spaces together with a loading area.
Tenure Comments
The property is held on a 125-year ground lease from 22 January 1990 at a peppercorn rent
EPC
E (111)
Legal Costs
Each party to be responsible for their own legal costs incurred in this transaction.
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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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Brochure
12 , Octavian Way, Team Valley Trading Estate, Gateshead , NE11 0HZ
About Naylors Gavin Black LLP, Newcastle Upon Tyne
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.
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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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Disclaimer - Property reference 3381FH. 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.