Whitley Rd | Newcastle Upon Tyne NE12 9SZ
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Whitley Rd
Newcastle Upon Tyne NE12 9SZ
Warehouse Unit 3 · Industrial Property For Sale
Investment Highlights
- Detached building utilised for engineering use
- Circulation and parking yard area
- Pedestrian and vehicular door
Executive Summary
We are instructed to seek offers in excess of £1m, which represents 7.47% Net Initial Yield after purchaser’s costs (based on the headline rent).
The property is available For Sale subject to the occupational lease to Kiowa Limited which is drafted on Full Repairing & Insuring terms (subject to a schedule of condition) for 10 years from 4th October 2023, with a 5th year upwards only rent review (to Market Rent) and 5th year Tenant only break clause at 3rd October 2028. The property is leased on a stepped rent with the sellers intending to top-up to the headline figure of £79,000 per annum exclusive. The property is held by way of a long-leasehold interest with just 86 years unexpired at a peppercorn rent.
The property is available For Sale subject to the occupational lease to Kiowa Limited which is drafted on Full Repairing & Insuring terms (subject to a schedule of condition) for 10 years from 4th October 2023, with a 5th year upwards only rent review (to Market Rent) and 5th year Tenant only break clause at 3rd October 2028. The property is leased on a stepped rent with the sellers intending to top-up to the headline figure of £79,000 per annum exclusive. The property is held by way of a long-leasehold interest with just 86 years unexpired at a peppercorn rent.
PROPERTY FACTS Sale Pending
| Sale Type | Investment | Lot Size | 25.29 AC |
| Tenure | Long Leasehold | Rentable Building Area | 15,951 SF |
| Property Type | Industrial | No. Stories | 2 |
| Property Subtype | Warehouse | Year Built | 1991 |
| Building Class | B | Tenancy | Single |
| Sale Type | Investment |
| Tenure | Long Leasehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 25.29 AC |
| Rentable Building Area | 15,951 SF |
| No. Stories | 2 |
| Year Built | 1991 |
| Tenancy | Single |
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