Commercial property for sale in Newcastle upon

INVESTMENT SUMMARY  A rare opportunity to acquire a multi-let industrial estate located in Lemington, Newcastle upon Tyne. The property comprises a refurbished multi-let industrial estate spanning 26 units totalling 57,861 sq. ft.  The tenant mix is varied and focussed on clean, trade-orientated use. The salient rental tone of £10 per sq ft is well-established and all leases benefit from rent reviews to the higher of OMR or uncapped RPI.  Direct access to the A6085, which links in turn the A1(M), A69 and Newcastle city centre.  Freehold  Annual rental income of £627,300.00  Offers sought in the region of £9,030,000.00 which equates to a net yield of approximately 6.5%  THE DEVELOPMENT This investment opportunity comprises 26 individual industrial units of varying sizes, with the added advantage of five units offering private secured yards.  Phase 1 comprises 8 industrial/workshop units ranging from 2,640 sq. ft. to 3,030 sq. ft. Additionally featured here is The Cone, which endured a complete overhaul delivering an impressive 3,340 sq. ft. outlet with a 5,150 sq. ft. secured yard. Being the tallest building in Lemington, it poses as an iconic landmark in the local area.  Phase 2's 11 hybrid units come complete with a WC, kitchenette, electric roller shutter, BT connection, 3-phase electricity and water, ensuring a hassle-free and efficient work environment from day one. The ground floor warehouse is perfect for storage whilst the load bearing first floor can be customised into limitless configurations suitable for any business.  Phase 3 features a collection of 6 refurbished units. Among the units, two are situated across ground floor & base level, while the remaining four units are positioned at ground level solely. Notably, one of these six units (no. 26) stands independently, boasting a detached status and private secured yard.  Phase 4 features two yards totalling over 2 acres of land, the freehold of which has now been sold. Yard 1 has been purchased by Vertu Motors and the second by Thrifty Car Rental.

Commercial property for sale in Newcastle upon Tyne, England

Commercial property for sale

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