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Telefonica, Albany Court, Newcastle Business Park, Newcastle upon Tyne NE4 7YB

  • Let to Telefonica UK Limited for an unbroken 15 years from November 2014
  • Rent reviewed to RPI with 2.5% collar and 4.5% cap
  • Used as major O2 mobile phone switching centre with significant tenant investment in the site

We are instructed to seek offers of £1,920,000, which reflects a net initial yield of 6.00% after purchaser’s costs at 5.80%, rising to a minimum of 6.57% in 2019 and 7.43% in 2024.