- Well specified, 'big box' industrial unit totalling 17,613.05 sq m (189,585 sq ft)
- Well located logistics and distribution unit with good links to the North East and Yorkshire via the A19 / A1(M) in close proximity
- Let on a 10 year straight lease w.e.f 13 January 2025 expiring 12 January 2035 - 9.25 years unexpired.
- Let to View Logistics Limited & Guaranteed by Victoria PLC on two coterminous leases at a combined rent of £700,000 per annum
- Rent review in year 5 linked to CPI with annual CPI increases thereafter (capped at 2%)
- We are instructed to seek offers in excess of £7,500,000 reflecting a Net Initial Yield of 8.75% and a low capital value of £39.56 per sq ft
Industrial Investment For Sale - View Logistics, Park View Road East, Hartlepool.
The property is securely let at a headline rent of £700,000 per annum with c. 9.25 years unexpired on the lease.
The premises are situated on Park View Road East, just off Brenda Road (B1277) which is one of the main thoroughfares into Hartlepool town centre, via BellVue Way (A6789). Hartlepool Town Centre is situated approximately 1 mile north of the subject property. The Seal Sands Terminal and the mouth of the River Tees is also a short distance away.
Brenda Road is a prominent and busy location with the property sitting within close proximity of Parkview Industrial Estate and Ford and Renault Car Dealerships. The prominence of the location is evidenced by the nearby Teesbay Retail Park which is home to the likes of Lidl, Halfords, Home Bargains, Burger King, B&M, The Range and Iceland.
To the south of the subject property the location becomes increasingly industrial with established occupiers including the likes of Biffa Waste Management, PD Logistics, Exwoold Technology and Tata Steel.
Given the proximity to the River Tees / Seal Sands Hartlepool has become a 'best in class' location for both the offshore wind and petro chemical industries.
All figures quoted are exclusive of VAT which may apply.
We are instructed to seek offers in excess of £7,500,000 (Seven Million Five Hundred Thousand Pounds), subject to contract & exclusive of VAT, reflecting a net initial yield of 8.75%, assuming standard purchaser's costs of 6.66%.
A purchase at this level reflects a low capital value of £39.56 per sq ft and a reversionary yield of 9.78%.
Available on request.