- Prominent trade investment extending to 35,552 sq ft providing 17 units between 2,087 sq ft and 4,174 sq ft
- Excellent location off Scotswood Road 1 mile west from Newcastle city centre and 2.5 miles west from the A1(M)
- Secure tenant line up with tenants including Vodafone, UK Electric Limited & Lloyd Worrall
- Total income of £299,339 per annum
- WAULT to expiry of 5.00 years & 2.53 years to break
- Reserved ERV of £337,744 per annum
- 86% of the income is to tenants with a CreditSafe Rating of A / B ('Very Low Risk' / 'Low Risk')
- 43% of the income has a rent review mechanism to the greater of OMRV or RPI (2% - 4% collar and cap respectively)
- Offers in excess of £4,000,000 (Four Million Pounds), reflecting a NIY of 7.02% and a reversionary yield of 7.93%.
For Sale - Prime, multi-let, 'last mile' trade investment. Units 1-17 Noble Street, Scotswood Road, Newcastle Upon Tyne.
Prominent trade scheme extending to 35,552 sq ft providing 17 units between 2,087 sq ft and 4,174 sq ft.
The property is situated fronting Noble Street, accessed from Sanderson Street which connects directly to the south with Scotswood Road (A695). Scotswood Road is the main arterial route connecting Newcastle city centre with the A1(M). The trade scheme is strategically located being 1 mile west of Newcastle City Centre and 2.5 miles east from the A1(M).
Scotswood Road has become synonymous with both trade and automotive occupiers all benefiting from the significant traffic flow and prominence. The site, being only 0.9 miles from Newcastle city core, means it is an ideal 'last mile' location which has resulted in the significant tenant retention and ease of reletting units.
Surrounding occupiers fronting Scotswood Road include Vertu Motor Arena, Arnold Clark, Newcastle Audi, Mercedes Benz, Vertu Ford, Vertu Honda.
Surrounding trade occupiers include the likes of Speedy Hire, Toolstation, Howdens, Plumbase, BSS & Wolseley.
All figures quoted are exclusive of VAT which may apply.
We are instructed to seek offers in excess of £4,000,000 (Four Million Pounds), subject to contract and exclusive of VAT, reflecting a net initial yield of 7.02%, assuming standard purchaser's costs of 6.54% and a reversionary yield of 7.93%.
The EPC Rating for the property are available on request.