Property Information
Address:
Shields Road, Newcastle Upon Tyne, North East
, NE6 2YN
, North East
, United Kingdom
Price: Sale Price: £800,000
Size: 59030 sq ft5484 sqm
Primary Category: Commercial Property
All Categories:
Investment,
Property Ref/Movehut: MH687468
Property Ref/Agent: 114518
*Please use the agent ref when calling the agent directly.
Property Date Information
Last Updated: April 26, 2024
Property description
MIXED-USE INVESTMENT WITH VALUE-ADD OPPORTUNITIES
Well located mixed-use asset providing; high bay industrial/workshop accommodation and separate office space.
Passing rent £133,259 per annum.
Offering excellent reversion, with ERV of £202,635 per annum.
50% of the income to Houghton International Ltd (Creditsafe - Very Low Risk), who have recently signed reversionary leases to 2030.
WAULT 5.19 years to expiry and 3.21 to break.
Numerous asset management strategies to enhance rental and capital value.
Offers in the region of £800,000 (Eight Hundred Thousand Pounds) exclusive of VAT, reflecting a Net Initial Yield of 13.54%, after purchaser's costs of 5.49%.
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