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1 Kings Ct
Gateshead NE11 0JS
Industrial Property For Sale
Investment Highlights
- Located on the North East's premier industrial estate.
- Rare 'cross docked' unit.
Executive Summary
The property comprises a prime, single let industrial investment securely let to Smiths News with c. 4.05 years unexpired on the lease at a rent of £131,550 per annum. The asset is located on the regions premier industrial estate and comprises a modern detached steel portal frame warehouse and production facility together with integral two storey office accommodation. The property benefits from 10 electrically operated access doors providing cross loading as well as two yard areas on both the northern and southern elevations. There was a tenant only break option at the end of the 5th year of the term which they didn't serve, showing their ongoing commitment to the location and building. Offers are sought in excess of £1,650,000 (One Million, Six Hundred & Fifty Thousand Pounds) exclusive of VAT, reflecting a Net Initial Yield of 7.51% after allowing for purchaser's costs of 6.16%. £1,650,000 reflects a reversionary yield of 8.62% and a low overall capital value of £92.82 per sq ft.
Property Facts
| Sale Type | Investment | No. Stories | 23 |
| Tenure | Freehold | Year Built | 1982 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Parking Ratio | 0.88/1,000 SF |
| Building Class | B | Clear Ceiling Height | 18’7” (5.66 m) |
| Lot Size | 4.76 AC | No. Drive In / Grade-Level Doors | 10 |
| Rentable Building Area | 17,777 SF |
| Sale Type | Investment |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 4.76 AC |
| Rentable Building Area | 17,777 SF |
| No. Stories | 23 |
| Year Built | 1982 |
| Tenancy | Single |
| Parking Ratio | 0.88/1,000 SF |
| Clear Ceiling Height | 18’7” (5.66 m) |
| No. Drive In / Grade-Level Doors | 10 |
Amenities
- Security System
- Yard
- Automatic Blinds
1 of 6
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