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Geoffrey Rhodes Centre 46-60 Algernon St 20,678 sq ft Office Property Newcastle Upon Tyne NE6 2UZ £1,100,000 (£53.20/sq ft)
Investment Highlights
- A freehold investment opportunity.
- Let to NHS Trust on a new 5 year FRI lease expiring 31/03/2031.
- Established medical centre in strong location.
- Approx GIA - 20,676 sq ft (1,920 sq m).
- Investment let at £100,000 per annum (9.09% GIY on guide price).
- Used for an NHS Clinic and NHS stores for distribution.
- Long term development potential (subject to consents).
- Site area approximately 0.98 acres.
- No VAT payable on purchase price.
Executive Summary
Lot 103 is available by way of Savills Online Auction 20th May 2026
A freehold investment opportunity comprising buildings used for an NHS Clinic and stores for distribution. The property is fully let to Newcastle City Health NHS Trust on a FRI lease for a term of 5 years from 01/04/2026. Approx GIA - 20,676 sq ft (1,920 sq m). Investment let at £100,000 per annum (9.09% GIY on guide price).
A freehold investment opportunity comprising buildings used for an NHS Clinic and stores for distribution. The property is fully let to Newcastle City Health NHS Trust on a FRI lease for a term of 5 years from 01/04/2026. Approx GIA - 20,676 sq ft (1,920 sq m). Investment let at £100,000 per annum (9.09% GIY on guide price).
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Office
Tenure
Freehold
Property Subtype
Medical
Property Size
20,678 sq ft
Costar Property Class
B
Year Built
1970
Price
£1,100,000
Price per sq ft
£53.20
Tenancy
Single
Number of Floors
1
Typical Floor Size
20,676 sq ft
Plot ratio
0.48
Total Plot Size
0.98 ac
Parking
22 Spaces (1.06 Spaces per 1,000 sq ft Leased)
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Geoffrey Rhodes Centre | 46-60 Algernon St
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