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Phoenix House Westerby Rd 18,292 sq ft 84% Let Office Property Middlesbrough TS3 8TD £490,000 (£26.79/sq ft) 8.16% Net Initial Yield

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INVESTMENT HIGHLIGHTS

  • Situated on the edge of Skippers Lane Industrial Estate
  • Excellent access to the A66 Trunk Road
  • 2 miles east of Middlesbrough town centre

EXECUTIVE SUMMARY

The freehold interest is available to purchase with offers invited over £490,000 reflecting a gross initial yield of 8.16%.

PROPERTY FACTS Sale Pending

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
18,292 sq ft
Costar Property Class
B
Year Built
1990
Price
£490,000
Price per sq ft
£26.79
Yield
8.16%
NOI
£39,984
Occupancy Rate
84%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
9,146 sq ft
Plot ratio
0.91
Total Plot Size
0.46 ac
Parking
23 Spaces (1.26 Spaces per 1,000 sq ft Leased)

AMENITIES

  • Bus Route

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • USE
  • CONDITION
  • AVAILABLE
  • Ground - 1
  • 2,999 sq ft
  • Industrial
  • -
  • Now

The property comprises a single-storey, steel portal frame warehouse with profile metal cladding to the elevations and roof. Internally, the unit benefits from an open-plan layout with excellent natural light via multiple translucent roof panels with concrete flooring throughout. The warehouse has an approximate eaves height of 4.6 metres, making it suitable for a variety of light industrial, storage or distribution uses subject to the necessary planning consents. An electric roller shutter door offers convenient access for loading and unloading. Externally there is a small yard area to the side of the unit with parking to the front.

Space Size Space Use Condition Available
Ground - 1 2,999 sq ft Industrial - Now

Ground - 1

Size
2,999 sq ft
Space Use
Industrial
Condition
-
Available
Now

Ground - 1

Size 2,999 sq ft
Space Use Industrial
Condition -
Available Now

The property comprises a single-storey, steel portal frame warehouse with profile metal cladding to the elevations and roof. Internally, the unit benefits from an open-plan layout with excellent natural light via multiple translucent roof panels with concrete flooring throughout. The warehouse has an approximate eaves height of 4.6 metres, making it suitable for a variety of light industrial, storage or distribution uses subject to the necessary planning consents. An electric roller shutter door offers convenient access for loading and unloading. Externally there is a small yard area to the side of the unit with parking to the front.

  • Listing ID: 32579557

  • Date on Market: 25/07/2024

  • Last Updated:

  • Address: Westerby Rd, Middlesbrough TS3 8TD

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