- Two separate mixed-use buildings together with surface car park
- Available separately or as a portfolio
- Prominent city centre location off St James’ Boulevard close to St James’ Park and Newcastle University
- 12-14 Blandford Square
- 16,932 sq ft (13,671 sq ft Office and 3,261 sq ft Retail)
- Let to 7 tenants at total rent of £236,462pa
- King’s Trust, 53-57 Blandford Square
- 10,535 sq ft Office and 30 space surface car park
- Office accommodation let to The Kings Trust
- Car Park let to occupiers of both buildings plus 14 pay and display spaces
- Total rent including car parking £159,018pa
- Freehold
- Total of 27,467 sq ft and 0.16 acre car park
- Total passing rent is £395,580 per annum (net rent £388,980pa after deduction of service charge shortfall)
Offers are invited in excess of £4,050,000 (Four Million and Fifty Thousand Pounds), exclusive of VAT and subject to contract. A purchase at this level reflects 9.01% Net Initial Yield and a low Capital Value of £147.45 per sq ft including the car park, assuming standard purchaser’s costs of 6.54%. Consideration will also be given to a sale of the two assets separately.