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Jam Jar Studios 5 Mulgrave Ter 11,638 sq ft 100% Let Retail Property Gateshead NE8 1PQ £340,000 (£29.21/sq ft)
Investment Highlights
- A freehold modern office amounting to an approx. 11,638 sq ft. (1,081 sqm).
- Development & change of use potential.
- Low capital value of £29.21 per a sq ft.
- Gateshead Metro Station located an approx. 0.1 miles from the property.
- Suitable for both investors & owner occupiers.
- 6 week completion available.
- Asset management potential to let the property out in its current format.
- Vacant.
Executive Summary
A freehold detached property that was most recently occupied by an owner occupier and previously used as high-end serviced office accommodation. The property is situated over 4 floors (Basement, Ground, First and Second Floor) and previously included multiple office studios including a TV studio and café at ground floor.*Please refer to notes. The property offers instant asset management potential in its current use or alternative uses, and/or development potential (subject to the requisite consents). The property would also be suitable for owner occupiers.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Bar
Property Size
11,638 sq ft
Costar Property Class
B
Year Built
1960
Price
£340,000
Price per sq ft
£29.21
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
3
Frontage
79 ft on Mulgrave Terrace
Amenities
- 24 Hour Access
- Atrium
- Food Court
- Property Manager on Site
- Restaurant
- Security System
- EPC - D
- Air Conditioning
- Balcony
Major Tenants
- Tenant
- Industry
- sq ft Occupied
- Rent/sq ft
- Lease End
- B- Skill
- -
- 1,187 sq ft
- -
- Nov 2021
- DigiPro Media
- -
- 583 sq ft
- -
- Sep 2019
- Evermore Solutions Ltd
- -
- 1,222 sq ft
- -
- Aug 2021
- HREB Ltd
- -
- 377 sq ft
- -
- Aug 2019
-
- -
- 1,251 sq ft
- -
- May 2021
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- The Beauty Academy
- -
- 502 sq ft
- -
- Nov 2021
- TV Studio
- -
- 1,054 sq ft
- -
- -
| Tenant | Industry | sq ft Occupied | Rent/sq ft | Lease End | ||
| B- Skill | - | 1,187 sq ft | - | Nov 2021 | ||
| DigiPro Media | - | 583 sq ft | - | Sep 2019 | ||
| Evermore Solutions Ltd | - | 1,222 sq ft | - | Aug 2021 | ||
| HREB Ltd | - | 377 sq ft | - | Aug 2019 | ||
|
|
- | 1,251 sq ft | - | May 2021 | ||
| The Beauty Academy | - | 502 sq ft | - | Nov 2021 | ||
| TV Studio | - | 1,054 sq ft | - | - |
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Nearby Major Retailers
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Jam Jar Studios | 5 Mulgrave Ter
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