Skerne House, Belmont Industrial Estate, Durham, DH1 1TH

Constructed in 2022, the property comprises a multi-let terrace of three highly specified industrial units of steel portal frame construction, with secure yardage to the rear and parking to the frontage. The estate features a composite cladding external envelope with roller shutter loading access and a glazed aluminium visitor/staff entrance. Internal accommodation is arranged over a solid concrete slab and features an amenity block with two toilets and a kitchenette. Eaves height is 6.5m. The property features 24 hour CCTV security surveillance, 3 phase power supply and LED lighting throughout.

Belmont Industrial Estate is strategically located at Junction 62 of the A1(M), with access off the A690 which connects Durham City two miles to the west with Sunderland eight miles to the east.

Newcastle City Centre is approximately 14 miles to the north. The wider Belmont estate is a well established commercial area with notable occupiers including Durham and Darlington Fire Service Headquarters, Age UK Durham, BHP Law, Arriva Bus, Premier Inn, Home Group and a number of car dealerships including BMW and Mini. The park has excellent links to all parts of the region with East coast mainline railway service to London Kings Cross and Edinburgh available at Durham city train station.

We are instructed to seek offers in excess of £1,780,000 (One Million Seven Hundred & Eighty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 6.29% based on the topped-up rent of £118,950, a low capital value of £113.67 psf and a reversion to 6.60% in 2027 assuming our opinion of ERV of £8.00 psf on Unit 3. Pricing assumes purchasers’ costs of 6.19%.