The property comprises a single storey industrial building with central atrium and attached two storey office. The unit is of steel portal frame construction under a pitched profile metal roof with brick and block walls with insulated profile cladding above. Internally the unit benefits from concrete floors throughout, strip lighting, heating via gas fired warm air blowers with a minimum eaves height of 3.65m rising to 6.1m at the apex. Ancillary offices and additional mezzanine areas for mess room and storage are also provided in the industrial space. Access doors are provided in both elevations leading to external loading areas. To the Kingsway frontage is a two storey office accommodation fitted out to a high specification benefitting from heating, lighting and laminate flooring. The unit sits on a site of approximately 2.1 acres and can be accessed via Kingsway South or a secondary access at the rear of the property.
The property is prominently located on Kingsway South, the main road running through Team Valley Trading Estate. Team Valley is located approximately 1 mile south west of Gateshead Town Centre and approximately 3 miles south of Newcastle upon Tyne City Centre. The estate benefits from excellent communication links with direct access to the A1 Western Bypass available at both the northern and southern end of the estate. The A1 in turn provides connections to the regional and national motorway network. Team Valley is widely recognised as the premier business location for production/warehouse facilities in the North East and covers a total area of approximately 238 hectares providing more than 650,000 sq m of industrial, office, retail and leisure accommodation.
We understand that the property is connected to all mains services.
All figures quoted are exclusive of VAT which may apply.
According to the Valuation Office Agency website the property has a 2017 Rateable Value of £137,000. Interested parties speak to the Local Rating Authority to confirm the rates payable.
The property is held on a 125 year ground lease from 25th September 1992 at a peppercorn rent. Full details of the ground lease are available on request.
The Long Leasehold interest is available to purchase at a price of £1,800,000. Alternatively, the property is available to let by way of a new Full Repairing and Insuring lease for a term of years to be agreed at a rent of £185,000 per annum exclusive.
The EPC Rating for the property is D(96)