The portfolio was single let to 3t Training Services and sold with 20-year leases in place across three buildings. 3t Training are the UK's leading energy sector training provider and occupy a large proportion of the units on Jupiter Court.
HTA Real Estate advised the vendor on the disposal which incorporated two hybrid units and a specialist building occupied as an on-site hotel for those training in the region. The tenant is established in the location which benefits from its excellent access to the likes of the Port and the A19. The properties were all located on the prime Tyne Tunnel Trading Estate and let at a combined rent of £216,002 per annum. Quoting was £2.35m which reflected a net initial yield of 8.64%.
