The site is currently occupied by a former bakery and associated distribution warehouse and yard. Access to the site is either via Rede Street directly off Kingsway to the east or from Princesway to the west. (Plans of the existing buildings are available on request).
The site is located in a prominent position on Team Valley with direct access onto Kingsway which is the main arterial route through the estate. Team Valley is recognised as being the North East's premier industrial location and is the home to approximately 700 companies and 25,000 employees. The valley lies approximately 4 miles south west of Gateshead town centre and 5 miles south of Newcastle upon Tyne, with excellent communication links to the A1 Western by-pass, situated adjacent to the estate. Team Valley is well serviced by public transport and offers all the amenities that would be expected within an estate of this size including hotels, public houses, restaurants/cafes, retail parades, retail park and supermarket. Being situated adjacent to the A1 allows ease of access to Newcastle International Airport approximately 10 miles to the north west, Newcastle mainline railway station 5 miles to the north, Port of Tyne 12 miles to the East and the port of Sunderland 13 miles to the east.
We understand that the property is connected to all mains services.
All figures quoted are exclusive of VAT which may apply.
The property is held by way of a long lease for a term of 125 years from 18th September 1986 at a peppercorn rent. A copy of the lease is available on request.
Offers are sought for our client's long leasehold interest.