Industrial Investment on Prime Estate, Gateshead
12 , Octavian Way, Team Valley Trading Estate, Gateshead , NE11 0HZ
Investment, Industrial
4,663 Sq Ft
£435,000 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 mid-terraced warehouse unit of steel portal frame construction with block work walls and profile insulated cladding from 2m high and to the roof, which incorporates translucent panels. There is a single up/over loading door to the front of the unit.
Internally, the property is utilised for storage, with a small trade counter and office located to the front of the unit. The property also benefits from a small mezzanine floor, which is used for additional storage. The unit specification includes fluorescent tube lighting and gas heating, with an eaves height to the apex of 7m.
Externally, the property benefits from seven designated parking spaces together with a loading area.
Key features
Rare opportunity to purchase a modern unit on Team Valley Trading Estate
Let to Eurocell Building Plastics Limited (Co. No. 03071407) - £212m turnover / £22m shareholder funds. (2024 accounts)
4.8 years to expiry (1.8 years to break)
Reversionary passing rent of £35,370 per annum (£7.58 psf)
Tenant in occupation for over 15 years
Long leasehold expiring 2115 (89 unexpired) at peppercorn rent
Seeking offers in excess of £435,000 exclusive of VAT
An offer at this level shows a net initial yield of 7.79% after standard purchaser costs
Location
The property is located within Team Valley Trading Estate, one of the North East's busiest and most important commercial estates. Team Valley covers a total area of approximately 238 hectares and provides in excess of 650,000 sq. m of commercial accommodation.
Octavian Way is located in the south west quadrant of Team Valley Trading Estate close to Retail World and approximately 4.5 miles south of the Newcastle/Gateshead conurbation and has direct access onto the A1 trunk road linking the north and Scotland with the Midlands and south.
The property is situated on Octavian Way off Dukesway. The neighbouring occupiers are predominantly trade counter and warehouse users including Crown Decorating and NEPS Logistics. Retail World is a one-minute drive time and home to many national retailers including M&S, Currys, Halfords, B&M and Sports Direct.
Terms
The property is held on a 125-year ground lease from 22 January 1990 at a peppercorn rent
