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1 Kings Ct
Gateshead NE11 0JS
Industrial Property For Sale
Investment Highlights
- Rare opportunity to acquire a securely let, prime industrial investment.
- Mission critical location for the tenant.
- Tenant, Smiths News, has a Creditsafe Rating of 100 / A offering excellent security to an investor.
- Rare 'cross docked' unit.
- Low overall capital value - underpinned by vacant possession value.
- Located on the North East's premier industrial estate.
- Let to a secure tenant with 4.05 years unexpired on the lease.
- Significant reversionary potential at lease expiry.
- Tenant didn't serve their break option - showing their ongoing commitment to the building / location.
Executive Summary
The property comprises a prime, single let industrial investment securely let to Smiths News with c. 4.05 years unexpired on the lease at a rent of £131,550 per annum. The asset is located on the regions premier industrial estate and comprises a modern detached steel portal frame warehouse and production facility together with integral two storey office accommodation. The property benefits from 10 electrically operated access doors providing cross loading as well as two yard areas on both the northern and southern elevations. There was a tenant only break option at the end of the 5th year of the term which they didn't serve, showing their ongoing commitment to the location and building. Offers are sought in excess of £1,650,000 (One Million, Six Hundred & Fifty Thousand Pounds) exclusive of VAT, reflecting a Net Initial Yield of 7.51% after allowing for purchaser's costs of 6.16%. £1,650,000 reflects a reversionary yield of 8.62% and a low overall capital value of £92.82 per sq ft.
Property Facts
| Sale Type | Investment | No. Floors | 23 |
| Tenure | Freehold/Long Leasehold | Year Built | 1982 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Parking Allocation | 0.88/1,000 sq ft |
| Costar Property Class | B | Eaves Height | 18 ft 7 in (5.66 m) |
| Total Plot Size | 4.76 ac | No. Drive In / Grade-Level Doors | 10 |
| Net Internal Area (NIA) | 17,777 sq ft |
| Sale Type | Investment |
| Tenure | Freehold/Long Leasehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Costar Property Class | B |
| Total Plot Size | 4.76 ac |
| Net Internal Area (NIA) | 17,777 sq ft |
| No. Floors | 23 |
| Year Built | 1982 |
| Tenancy | Single |
| Parking Allocation | 0.88/1,000 sq ft |
| Eaves Height | 18 ft 7 in (5.66 m) |
| No. Drive In / Grade-Level Doors | 10 |
Amenities
- Security System
- Yard
- Roller Shutters
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