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East, Park View Road Brenda Rd 189,585 sq ft 100% Let Industrial Property Hartlepool TS25 1HT £7,500,000 (£39.56/sq ft) 8.75% Net Initial Yield
Investment Highlights
- Well specified, 'big box' industrial unit totalling 17,613.05 sq m (189,585 sq ft).
- Let on a 10 year straight lease w.e.f 13 January 2025 expiring 12 January 2035 - 9.25 years unexpired.
- Rent review in year 5 linked to CPI with annual CPI increases thereafter (capped at 2%).
- Well located logistics and distribution unit with good links to the North East and Yorkshire via the A19 / A1(M) in close proximity.
- Let to View Logistics Limited & Guaranteed by Victoria PLC on two coterminous leases at a combined rent of £700,000 per annum.
- We are instructed to seek offers in excess of £7,500,000 reflecting a Net Initial Yield of 8.75% and a low capital value of £39.56 per sq ft.
Executive Summary
This property is a well specified, ‘big box’ industrial unit totalling 189,585 ft². It currently has a a highly invested tenant who has recently committed to a lease renewal and has been on site for over 18 years with 9.25 years unexpired on the lease. The property is let to View Logistics Limited & Guaranteed by Victoria PLC. The property has a current income of £700,000 per annum reflecting a low rent of £3.70 /ft² on an overall basis. The site in general is 10.50 acres with a low site coverage of approximately 42%.
Property Facts
| Price | £7,500,000 | Total Plot Size | 6.89 ac |
| Price per sq ft | £39.56 | Net Internal Area (NIA) | 189,585 sq ft |
| Sale Type | Investment | No. Floors | 2 |
| Yield | 8.75% | Year Built | 1991 |
| Tenure | Freehold | Parking Allocation | 0.34/1,000 sq ft |
| Property Type | Industrial | No. Dock-High Doors/Loading | 2 |
| Property Subtype | Manufacturing | No. Drive In / Grade-Level Doors | 8 |
| Costar Property Class | B |
| Price | £7,500,000 |
| Price per sq ft | £39.56 |
| Sale Type | Investment |
| Yield | 8.75% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Manufacturing |
| Costar Property Class | B |
| Total Plot Size | 6.89 ac |
| Net Internal Area (NIA) | 189,585 sq ft |
| No. Floors | 2 |
| Year Built | 1991 |
| Parking Allocation | 0.34/1,000 sq ft |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 8 |
Amenities
- Fenced Lot
- Security System
- Yard
- Roller Shutters
- Storage Space
- On-Site Security Staff
Utilities
- Lighting
- Water
- Sewer
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East, Park View Road | Brenda Rd
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