Unit 4, Fisher Industrial Estate, Fisher Street, Newcastle Upon Tyne, NE6 4LT
Size
10,937
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
- Rarely available unit on Fisher Industrial Estate
- Let to Northern Stage (Theatrical Productions) Limited (Company No. 02187213)
- 4.58 years to expiry (2.58 yrs to break)
- Total GIA of 10,937 sq. ft (1,016 sq. m)
- Very low passing rent of £38,500 per annum (£3.52 psf)
- Reversionary rent of £71,000pa (£6.50 psf)
- Tenant in occupation since 2017
- Long leasehold expiring 28 February 2079 (53 years unexpired) with a current ground rent of £1,509 per annum
- Seeking offers in excess of £365,000 exc. VAT showing a net initial yield of approx. 9.75% off the net rent of after standard purchaser costs. This shows a very low capital value of £33.37 psf
Description
The property forms part of Fisher Industrial Estate, Walker, an established industrial location within the wider East Newcastle area. The property benefits from convenient connections to the A1058 Coast Road, A19 and Tyne Tunnel to the east, Newcastle city centre and A1 to the west. Â Nearby occupiers include those involved in the offshore sector including Cleveland Cable qnd SMD Tech Works, as well as local industrial and warehousing operators.
Description
The building is of steel portal frame construction with brick/blockwork elevations to approximately 2 metres, with metal profile cladding beneath a pitched single-skin metal clad roof. We understand that works of repair to the roof have been carried out in the last 24 months. Â
Internally, the warehouse benefits from gas-fired heating, while the office accommodation is fitted with air conditioning. There is lighting throughout which is a mix of fluorescent tube and box fittings. A mezzanine floor provides additional storage accommodation within the warehouse, and the property also benefits from approximately six demised car parking spaces externally.
The tenant currently uses the unit for storage and a workshop purposes.
Tenure Comments
The property is held on a 99-year lease from 1st March 1980 at a passing ground rent of £1,590 pa subject to open market reviews every 10th anniversary. We understand that the ground rent is not recharged to the tenant.  The initial ground rent in 1980 was £1,325 per annum.
We are instructed to seek offers in excess of £365,000 exc. VAT showing a net initial yield of approximately 9.75% off the net rent of £36,991 pa after standard purchaser costs.  This shows a potential reversion to over 18% at rent review in April 2029 and a very attractive capital value of £33.37 psf.
- Clear height
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- Yard depth
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- Service charge
- £0
- Business rates
- £0
- Use class
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- Listed building
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- BREEAM rating
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Brochure
Unit 4, Fisher Industrial Estate, Fisher Street, Newcastle Upon Tyne, NE6 4LT
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 3448FH. 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.