Share This Listing

Message

948 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the agent for more information about this property

Wallsend Town Hall High St E 30,000 sq ft 100% Let Office Property Wallsend NE28 7AT £2,795,000 (£93.17/sq ft) 11.70% Net Initial Yield

Save this listing!

Favourite this listing to get notified of price updates, new media and more

Investment Highlights

  • Prestigious serviced office building for sale
  • Grade II listed building
  • Fully let to multiple tenants since 2015
  • Total net internal floor area of 2,311m² (24,882ft²)
  • 50 modern office suites (2-30 desks)
  • Current gross rent of £402,336 per annum

Executive Summary

The subject property comprises an attractive, detached, two storey traditional former town hall with court, which has been entirely redeveloped in recent years to create a serviced office business centre.
The accommodation has a cellular arrangement and there are 50 furnished offices. The reception area at the Town Hall has been fitted with a luxurious carpet that feels thick underfoot. The Grand Staircase greets both guests and staff alike as you enter the main reception. The restrooms have been refurbished to a high standard throughout. Each area has its own fully modernised kitchen for coffees, teas and food and all have integrated dishwashers.
The luxury fixtures and fittings continue throughout the building, not just in the reception. The Town Hall retains all of its beautiful original stained glass windows. The decorative plasterwork of the chamber has been painstakingly restored to original condition. The Town Hall is one of the finest buildings in North Tyneside and provides a comprehensive range of facilities amidst classical baroque architecture. Each room is flooded with light and the grand proportions create a tremendous sense of scale and purpose.

Property Facts

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
30,000 sq ft
Costar Property Class
C
Year Built/Renovated
1908/2014
Price
£2,795,000
Price per sq ft
£93.17
Yield
11.70%
NOI
£327,022
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
15,000 sq ft

Amenities

  • Security System
  • Reception
  • Listing ID: 31202388

  • Date on Market: 13/03/2024

  • Last Updated:

  • Address: High St E, Wallsend NE28 7AT

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}