Single-Let Industrial Investment, North Shields
D3 Bergen Close, Tyne Tunnel Trading Estate, North Shields, NE29 7TA
Industrial, Investment
5,807 Sq Ft
£395,000 Long Leasehold
For Sale
Chris Donabie
Interested in this property?
Please contact me
chrisdonabie@naylors.co.uk 0191 232 7030Find out more
About the property
The property consists of a semi-detached industrial unit of steel framed construction under a pitched roof. The elevations are a made of rendered brickwork with cladding above. The roof has insulated corrugated asbestos cement decking over internal insulated panels.
The property has a single dock level loading door to the rear and an office entrance to the front. The unit is currently used for storage with a small office and mezzanine. The tenant currently occupies the next-door unit from which they have knocked a doorway through for access between the units. The property also benefits from external parking and loading area.
Key features
Located on the established Tyne Tunnel Trading Estate, close to the A19 and Tyne Tunnel
The unit extends to 5,807 sqft (593.48 sqm)
Occupied by Coolcheck Refrigeration Limited (Company No. 01949150)
Tenant has a very low risk rating with a Delphi score of 96
The tenant has been in occupation for 12 years
Low passing rent of £35,000 pa (£6psf)
3.1 years to expiry
Held long leasehold expiring on 2143 (117 years remaining)
Seeking offers over £395,000, which shows a net initial yield of 8.51% after standard purchaser costs
Location
The property is located and on the established Tyne Tunnel Trading Estate which is located in North Shields. The estate has excellent road links being located adjacent to the A19 Tyne Tunnel and the A1058 Coast Road.
The estate consists of a mix of logistics, warehouse and trade counter users. Silverlink Retail Park is within a 3-minute drive time, with major occupiers including, McDonalds, Boots and M&S.
Terms
The property is held by way of long leasehold for a term expiring 2143 (117 years unexpired). There is a ground rent of £1,000 per annum which is paid by the tenant. This covers the estate charge and insurance.
