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East, Park View Road Brenda Rd 286,841 SF 100% Leased Industrial Building Hartlepool TS25 1HT $10,356,827 ($36.11/SF) 8.75% Cap Rate
Investment Highlights
- Well specified, 'big box' industrial unit totalling 17,613.05 sq m (189,585 sq ft).
- Let on a 10 year straight lease w.e.f 13 January 2025 expiring 12 January 2035 - 9.25 years unexpired.
- Rent review in year 5 linked to CPI with annual CPI increases thereafter (capped at 2%).
- Well located logistics and distribution unit with good links to the North East and Yorkshire via the A19 / A1(M) in close proximity.
- Let to View Logistics Limited & Guaranteed by Victoria PLC on two coterminous leases at a combined rent of £700,000 per annum.
- We are instructed to seek offers in excess of £7,500,000 reflecting a Net Initial Yield of 8.75% and a low capital value of £39.56 per sq ft.
Executive Summary
This property is a well specified, ‘big box’ industrial unit totalling 189,585 ft². It currently has a a highly invested tenant who has recently committed to a lease renewal and has been on site for over 18 years with 9.25 years unexpired on the lease. The property is let to View Logistics Limited & Guaranteed by Victoria PLC. The property has a current income of £700,000 per annum reflecting a low rent of £3.70 /ft² on an overall basis. The site in general is 10.50 acres with a low site coverage of approximately 42%.
Property Facts
| Price | $10,356,827 | Lot Size | 6.89 AC |
| Price Per SF | $36.11 | Rentable Building Area | 286,841 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 8.75% | Year Built | 1991 |
| Tenure | Freehold | Parking Ratio | 0.34/1,000 SF |
| Property Type | Industrial | No. Dock-High Doors/Loading | 2 |
| Property Subtype | Manufacturing | No. Drive In / Grade-Level Doors | 8 |
| Building Class | B |
| Price | $10,356,827 |
| Price Per SF | $36.11 |
| Sale Type | Investment |
| Cap Rate | 8.75% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Building Class | B |
| Lot Size | 6.89 AC |
| Rentable Building Area | 286,841 SF |
| No. Stories | 2 |
| Year Built | 1991 |
| Parking Ratio | 0.34/1,000 SF |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 8 |
Amenities
- Fenced Lot
- Security System
- Yard
- Automatic Blinds
- Storage Space
- On-Site Security Staff
Utilities
- Lighting
- Water
- Sewer
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East, Park View Road | Brenda Rd
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