Industrial property specialists HTA Real Estate have acquired an industrial investment at Units 1 & 2, 5 Neville Road, North Tees Industrial Estate, Stockton-on-tees on behalf of a Private Investor.
The property is in a prominent location and is let on a new 10 year lease to Travis Perkins Trading Company Limited at a rent of £120,000 per annum with CPI linked rent reviews. The property extends to 19,095 sq ft of industrial/trade accommodation with car park & secure yard and is held on a lease for 125 years from 14 December 1997 at a current ground rent of £10,000 per annum.
Russell Taylor, Director at HTA Real Estate commented “We were delighted to have been able to secure this property for our Private Investment client as it was a perfect fit with regards to their specific criteria being well let and in a good location”.
