£1,650,000
Property for sale
Property photos
£1,650,000
(£92.82/sq. ft)
Property for sale
Smiths News, Kingsway South, Team Valley Trading Estate, Gateshead, Tyne & Wear NE1117,777 sq. ft
Local area information
Property location
Nearby amenities
- Joseph Swan Academy 0.4 miles
- Oakfield Infant School 0.5 miles
- Dunston 1.9 miles
- Newcastle 2.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- 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
The property comprises a prime, single let industrial investment securely let to Smiths News with c. 4.05 years unexpired on the lease at a rent of £131,550 per annum.
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.
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.
Floor plans and tours
Tours (1)
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More information
Listed by
HTA Real Estate
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