Property Information
Address:
Turntide Unit, Nissan Way, Washington, North East
, SR5 3NY
, North East
, United Kingdom
Price: Property no longer available.
Size: 21512 sq ft1998 sqm
Primary Category: Investment
All Categories:
Investment, Industrial,
Property Ref/Movehut: MH683614
Property Ref/Agent: 115032
*Please use the agent ref when calling the agent directly.
Property description
UNDER OFFER - PRIME REVERSIONARY INDUSTRIAL INVESTMENT
Prime modern single let industrial unit in the prime industrial location for the North East of England.
Highly accessible unit with excellent links to the A19, A1231 and A1(M).
Adjacent to the 3.89 million sq ft Nissan Plant and with further significant industrial development taking place at the nearby Hillthorn Business Park and International Advanced Manufacturing Park.
EPC rating of B-29.
Freehold.
Let to Hyperdrive Innovation Ltd on a 10 year term expiring April 2029.
Landlord recently agreed a deed of variation which moved the April 2024 break option to April 2027. The 2024 rent review was agreed at a low level reflecting £6.00 per sq ft and therefore offers excellent reversionary prospects.
We are instructed to seek offers in excess of £1,735,000 (One Million Seven Hundred and Thirty Five Thousand Pounds) reflecting a Net Initial Yield of 7.00% after standard purchaser costs of 6.20%.
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