Hadrian Works, Wellington Road, Gateshead, NE11 9JL
Size
12,357
Tenure
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EPC
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Parking
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- Primary use
- Light industrial
- Other use(s)
- Land
No floor / site plan
Key features
- Located in a prominent industrial trade counter location
- Within 2 minutes drive of the A1
- Total site area is 1.05 acres (0.42 hectares)
- 3.71 years to expiry (2.03 years to break)
- Low overall passing rent of £86,800 per annum (£6.82 psf)
- Reversionary rent estimated to be £98,856 per annum (£8 psf)
- Potential for further reversion subject to refurbishment
- Seeking offers over £900,000 exclusive of VAT showing a net initial yield of 9.13% after standard purchaser's costs. This shows a low capital value of £72.83 psf
- Potential reversion to over 10%
Description
The property is located on Wellington Road, Dunston which is located close to the Dunston Industrial Estate, a well-established industrial
location. The property benefits from excellent connectivity with access to the A1 the region's principal motorway.
Dunston Industrial Estate comprises a mix of detached and terraced industrial units, workshops and trade premises. The location is particularly attractive to occupiers requiring ready access to the A1.
The property is situated in a prominent position facing Wellington Road and is adjacent to Dunston Football Club. Dunston is one of the North East's longest standing commercial and employment areas with key neighbouring occupiers being Costco, Go North East and the Metro Centre.
Description
There are four units within the 1-acre site.
The larger blue unit at the front of the site, fronting the main road, is of a steel portal frame construction with brick/blockwork elevations
to approximately two metres and profiled metal cladding above. The roof is of pitched design with single-skin profiled metal decking. The unit has an eaves height of approximately 3.88m, rising to 5.10m at the apex, and benefits from an electric roller shutter door measuring approximately 4.18m high by 3.84m wide. Internally, the accommodation is divided into a number of production rooms,
offices, W.C. facilities and a kitchenette, with fluorescent strip lighting and gas-fired heating throughout. There is also a warehouse area,
incorporating a mezzanine storage area.
Units B and C comprise a single industrial building that has been split into two units. The building is of steel portal frame construction with brick/blockwork elevations to approximately two metres and profiled metal cladding above and a pitched roof with profiled metal decking incorporating approximately 5% translucent roof lights. The eaves height is approximately 10.75m in Unit B and 9.75m in Unit C. Both units are fitted with manual roller shutter doors, with Unit B's door measuring approximately 5.80m high by 4.60m wide and Unit C's measuring approximately 5.52m high by 4.62m wide. Internally, the units provide standard industrial accommodation with LED lighting throughout and a mezzanine floor for extra storage.
To the front of the site is a separate building that was formerly used as office accommodation but is now utilised for storage purposes.
The building is of steel portal frame construction with brick/blockwork elevations beneath a pitched roof clad in profiled steel sheeting. Internally, it is fitted with fluorescent strip lighting, gas fired heating and W.C. facilities.
Tenure Comments
Freehold.
- Clear height
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- Business rates
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- Use class
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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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- Environmental description
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Brochure
Hadrian Works, Wellington Road, Gateshead, NE11 9JL
About Naylors Gavin Black LLP, Newcastle Upon Tyne
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Disclaimer - Property reference 3444FH. 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.