£1,650,000
(£92.82/sq. ft)
Property for saleSmiths News, Kingsway South, Team Valley Trading Estate, Gateshead, Tyne & Wear NE11
17,777 sq. ft
About this property
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 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.
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£8,254 per month
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