Government Office Investment – No. 1 Cathedral Square, Newcastle upon Tyne, NE1 1EE September 2023Download
- 37,336 sq ft office building in the heart of Newcastle city centre
- Surrounding area subject to significant regeneration and redevelopment in the coming years
- Let to the undoubted covenant of The Secretary of State for Levelling Up, Housing and Communities
- 4.50 years term certain
- Rent £669,300 reflecting just £185.89 per sq m (£17.27 per sq ft) with an outstanding rent review from 1st April 2023
Offers sought in excess of £6,000,000 (Six Million Pounds) reflecting a net initial yield of 10.41% assuming purchaser’s costs of 6.63%.