ADDRESSB6 Marquis Court, Kingsway South, Team Valley Trading Estate, Gateshead, Tyne and Wear, NE11 0RU
TYPEOther, Other Property Types & Opportunities
TENUREUnder Offer, For Sale Freehold
POSTED ON22nd May 2021
SELF CONTAINED OFFICE INVESTMENT - GATESHEAD
Fully let to Assure Survey Limited (CRN 05713377) on a 5 year lease which expires on 18 November 2023 (3 years unexpired)
Offers sought in excess of £147,500, which equates to a net initial yield of 10%, after allowing for purchasers costs, reflecting a capital value of just £87 per ft
The office comprises modern two storey office premises providing open plan accommodation and benefiting from own front door, independent gas fired heating and WC and kitchen facilities. Car parking is available within a central courtyard.
Other tenants of note within the development include Pin Point Recruitment, Changing Lives and Pertemps.
Team Valley Trading Estate is the North East's premiere commercial estate covering 285 hectares and housing in
excess of 650,000 m2 of commercial accommodation. The Estate lies to the south of the Newcastle and Gateshead conurbation and adjacent to the A1.
Marquis Court is located in a prominent position on Team Valley between Kingsway South and Marquis Way and lies within easy walking distance of Team Valley Retail World.
The property is held by way of a long ground lease dated 1 March 1990 at a peppercorn rent. The occupational lease is to Assure Survey Limited on a 5 year FRI lease from 19 November 2018.