Smiths News , Kingsway South, Team Valley Trading Estate, Gateshead , Tyne & Wear, NE11
£92.82 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
17,777 sq ft
1,652 sq m
- SECTOR
Commercial property for sale
Key features
- Rare opportunity to acquire a securely let, prime industrial investment
- Located on the North East's premier industrial estate
- Mission critical location for the tenant
- Let to a secure tenant with 4.05 years unexpired on the lease
- Tenant, Smiths News, has a Creditsafe Rating of 100 / A offering excellent security to an investor
- Significant reversionary potential at lease expiry
- Rare 'cross docked' unit
- Tenant didn't serve their break option - showing their ongoing commitment to the building / location
- Low overall capital value - underpinned by vacant possession value
Description
The asset is located on the regions premier industrial estate and comprises a modern detached steel portal frame warehouse and production facility together with integral two storey office accommodation. The property benefits from 10 electrically operated access doors providing cross loading as well as two yard areas on both the northern and southern elevations.
There was a tenant only break option at the end of the 5th year of the term which they didn't serve, showing their ongoing commitment to the location and building.
Offers are sought in excess of £1,650,000 (One Million, Six Hundred & Fifty Thousand Pounds) exclusive of VAT, reflecting a Net Initial Yield of 7.51% after allowing for purchaser's costs of 6.16%.
£1,650,000 reflects a reversionary yield of 8.62% and a low overall capital value of £92.82 per sq ft.
Brochures
Smiths News , Kingsway South, Team Valley Trading Estate, Gateshead , Tyne & Wear, NE11
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Dunston Station1.9 miles
- Gateshead Stadium Tram Stop2.4 miles
- Felling Metro Station2.5 miles
Notes
Disclaimer - Property reference 1513FH. 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 HTA REAL ESTATE LIMITED, Newcastle. 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.
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