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Unit 15 Chollerton Drive, North Tyne Industrial Estate, Whitley Road, Benton, Newcastle upon Tyne, Tyne and Wear, NE12

For sale: £1,870,000.00|53,988 Sq Ft|Distribution Warehouse, General Industrial, Industrial Park, Retail Park, Warehouse, Industrial, Retail

Property details

FOR SALE£1,870,000.00
SIZE53,988 Sq Ft
ADDRESSUnit 15 Chollerton Drive, North Tyne Industrial Estate, Whitley Road, Benton, Newcastle upon Tyne, Tyne and Wear, NE12
TYPEDistribution Warehouse, General Industrial, Industrial Park, Retail Park, Warehouse, Industrial, Retail
TENUREInvestment Opportunity
POSTED ON20th November 2023

Description

Highly Reversionary Single Let Industrial Investment - • Single-let industrial facility extending to approximately 53,988 sq ft
• Located on North Tyne Industrial Estate, within 1 mile of the A19
• Let to BLP (Northern) Limited on a new 10 year lease from 3rd July 2023
• Annual rent of £160,000 per annum reflecting a modest £3.25 per sq ft
• ERV in 2023 of £221,035 per annum reflecting £4.50 per sq ft
• ERV in 2033 of £297,053 pa reflecting circa £6.04 per sq ft
• Long standing tenant having occupied the unit since 1990
• Long Leasehold

We have been instructed to seek offers in excess of £1,870,000 reflecting a capital value of £34.63 per sq ft, a NIY of 8.05%, an equivalent yield of 10.31%, a reversionary yield in 2033 of 14.87%

Location

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Location: Unit 15 Chollerton Drive, North Tyne Industrial Estate, Whitley Road, Benton, Newcastle upon Tyne, Tyne and Wear, NE12

Manors (4.3 miles)

Newcastle (4.8 miles)

Heworth (4.9 miles)

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