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Freehold Industrial Investment Let to Tetley GB Ltd – Eaglescliffe

For sale: £7,000,000.00|93,550 Sq Ft|Warehouse, Industrial park, Industrial, Office, Offices

Property details

FOR SALE£7,000,000.00
SIZE93,550 Sq Ft
ADDRESSTetley GB Ltd, 2 Sowerby Way, Durham Lane Industrial Park, Eaglescliffe, Stockton-On-Tees, Durham, TS16 0RB
TYPEWarehouse, Industrial park, Industrial, Office, Offices
TENUREInvestment Opportunity
POSTED ON25th June 2021

Description

ADDRESS: Durham Lane Industrial Estate, Durham Lane, Eaglescliffe, Stockton on Tees, TS16 0RB
• Modern well located warehouse in the North East in close proximity to Stockton – On – Tees with good access to the A1M
• Site area 6 acres.
• Low rent of £5.02 per sq ft rent
• In Chancellors budget 2021 this area is now a freeport-meaning there are no taxes on imports which are then re exported. The area covers 4500 acres of Teeside and is expected to create 18000 jobs and provide a £3.2billion boost to the economy

LOCATION
Stockton on Tees forms part of Teeside conurbations and lies about 4 miles to the west of Middlesborough and 9 miles to the east of Darlington. The main access to Stockton on Tees is via either the A19 or A66 trunk roads which in turn provides links to the A1(M), approximately 40 miles to the west. The A19 skirts the eastern edge of the town providing an alternative north / south route.
Stockton on Tees is approximately 250 miles north of London, 40 miles south of Newcastle Upon Tyne and 60 miles north of Leeds.
By rail Stockton on Tees to London (Kings Cross) has a fastest journey time or approximately 3 hours 30 minutes. Teeside Airport is approximately 4.5 miles west of Eaglescliffe
SITUATION
The site occupies a prominent position on Durham Lane industrial park, will access on to Cleasby Way Off Durham Lane and Guiseley Way Off Sowerby Way. Durham Lane is approximately 2 miles south of the A66 Stockton Thornaby By Pass, next to the A135 at Eaglescliffe. Durham Lane Industrial Park Comprises over 400,000 Sq. Ft of Industrial accommodation.
Neighbouring occupiers on Wass Way (Off Sowerby Way) include United Transport of Cummings.
DESCRIPTION
The property comprises a single storey production /warehouse facility which provides an extension to an existing Tetley GB industrial / office complex. The building is constructed around a steel portal frame under a pitched roof. The roof is a steel corrugated covering incorporating translucent rood lights which encompass approximately 10% of the floor area. The external elevations comprise plastic coated steel cladding which internal elevations comprise blockwork to the height of some 2 metres with plastic coated steel cladding above. The eaves height is approximately 10 metres.
ACCOMMODATION
The site is rectangular and has an area of approximately 6 acres. Distribution warehouse approximately 93,550 Sq. Ft.
TENANCY
The property let to Tetley GB Ltd (with the Tetley Group Ltd acting as surety) on FRI for a term of 25 years from 29 September 1998 at a current rent of £469,437 +VAT per annum with 5 yearly upwards only rent reviews.
RENT: £469,437 +VAT per annum TENURE: Freehold
PRICE: Offers in excess of £7,000,000 – 6.3% net

Location

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Location: Tetley GB Ltd, 2 Sowerby Way, Durham Lane Industrial Park, Eaglescliffe, Stockton-On-Tees, Durham, TS16 0RB

Allens West (0.3 miles)

Eaglescliffe (0.4 miles)

Yarm (2.4 miles)

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