Property Information
Address:
Legal Aid Agency Viking Industrial Estate Berkley Way, Jarrow Tyne And Wear, NE31 1SF
, NE31 1SF
Price: Property no longer available.
Size: SOA
Primary Category: Industrial
All Categories:
Warehouse, Industrial,
Property Ref/Movehut: MH617292
Property Ref/Agent: 15022
*Please use the agent ref when calling the agent directly.
Property description
Modern Government Let Industrial Investment
Legal Aid Agency Viking Industrial Estate
Berkley Way,
Jarrow Tyne and Wear, NE31 1SF
Ref
15022
Category
Invest
Type
Industrial, Warehouse
Status
Available
Price/Rent
£ 4,600,000
Size
1 - 72,983 sq ft
(0 - 6,780 sq m)
Modern high bay warehouse constructed in 2002 totalling 72,983 sq ft (6780.28 sq mtrs);
Site area 4.57 acres (1.851 ha) giving a low site coverage of 37%;
Favourable specification including large concrete surfaced service area, secure site with CCTV and gate house, 7 dock level and 2 level service doors. Minimum eaves height of 8m (26 ft);
Let to the Secretary of State for Housing Communities and Local Government on a new 10 year full repairing and insuring lease from the 14 September 2018 with tenant break at year 5;
Passing rent of £364,915 p.a. (£5 per sq ft);
Occupied by the Legal Aid Agency since 2008 for national file storage and administration;
Tenant has significantly invested in the property;
Freehold;
We are instructed to seek offers in excess of £4.6m reflecting a net initial yield of 7.44% after deduction of purchasers’ costs at 6.57%, or a capital value of £63 per sq ft.
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