Please see attached details of this single let industrial investment. Highlights as follows:
- Manufacturing facility and offices extending to 7,149.87 sq m (76,960 sq ft)
- Located on an established industrial estate with over 93k sq m (1 million sq ft) of commercial space in the immediate vicinity
- Less than a mile from the A19 trunk road and Tyne Tunnel river crossing offering direct access to the regional road network
- Let to LV Valenbeck Ltd until 30th November 2023 offering an unexpired term of 5.5 years
- Tenant in occupation for over 20 years
- Passing rent £134,176 representing just £18.72 per sq m (£1.74 per sq ft)
We are instructed to seek offers in excess of £1,350,000 (One Million Three Hundred and Fifty Thousand Pounds), which reflects a net initial yield of 9.37% after purchaser’s costs at 6.02%. A capital value of just £188.81 per sq m (£17.54 per sq ft).