- A rare opportunity to acquire a secure, single let industrial / distribution investment.
- Prominently situated with main road frontage onto Lobley Hill Road, within 0.5 miles of Team Valley, the region's premier industrial location.
- Strategically located distribution investment with excellent road communications with the A1 within 0.75 miles.
- Building extends to 22,555 sq ft on a large 1.92 acre site.
- Freehold.
- To be let on a 15 year term with no breaks at a rent of £135,000 per annum.
- Secure covenant of AAH Pharmaceuticals with a Creditsafe rating of 97/100 ('very low risk') with turnover for year end March 2023 of £3.3b.
- Low site cover of 30%.
Freehold sale & leaseback Investment for sale. Warehouse with offices on a substantial prominent road frontage site of 1.92 acres. The site includes a fuelling station, wash bay and interceptor tank.
The property, on completion of the sale, will be let to AAH Pharmaceuticals Ltd on a 15 year lease at a rent of £135,000 per annum, with 5 yearly, upward only rent reviews.
The property will be let on full repairing and insuring terms subject to a schedule of condition.
Gateshead is a large town in Tyne and Wear, on the southern bank of the River Tyne opposite Newcastle upon Tyne. Gateshead and Newcastle are joined by seven bridges across the Tyne, including the Gateshead Millennium Bridge.
Gateshead offers easy access to all local, national and international markets; providing links to air, road, rail and sea. Several major road links pass through Gateshead, including the A1 which links London to Edinburgh and the A184 which connects the town to Sunderland.
Tyne & Wear Metro stations at Gateshead Interchange and Gateshead Stadium provide direct rail access to Newcastle Central Station, Newcastle Airport, Sunderland, Tynemouth and South Shields.
Newcastle International Airport provides links to the rest of the UK, Europe and beyond with direct flights to and from over 80 destinations.
With an economy worth more than £4.18 billion and a working age population of 1.4 million within a 10 mile radius, Gateshead has been voted as one of the top locations within the UK from which to do business (Source: invest Gateshead).
The property, from a distribution perspective, is strategically located c. 0.75 miles from the A1. The A1 has recently undergone a £61m improvement project to widen the road adding a lane in both directions and creating better access
to and from the Team Valley Industrial Estate. Gateshead town centre is located less than 1 mile to the east and the Metrocentre is approximately 3 miles to the west, providing a range of amenities.
We understand that the property is connected to all mains services. Interested parties are advised to carry out their own checks on service provisions to the unit.
All figures quoted are exclusive of VAT which may apply.
According to the Valuation Office Agency website the property has a Rateable Value of £51,500. Interested parties speak to the Local Rating Authority to confirm the rates payable.
We are instructed to seek offers in excess of £1,750,000 (One Million, Seven Hundred & Fifty Thousand Pounds) subject to contract and exclusive of VAT.
A purchase at this level, assuming purchaser's costs of 6.20%, provides a net initial yield of 7.26%.
The property, on completion of the sale, will be let to AAH Pharmaceuticals Ltd on a 15 year lease at a rent of £135,000 per annum, with 5 yearly, upward only rent reviews.
The property will be let on full repairing and insuring terms subject to a schedule of condition.
AAH Pharmaceuticals Limited have a Creditsafe Risk Score of 97/100 and are rated as 'very low risk'. They have a Credit Limit of £95.15m and a Contract Limit of £500m.
The EPC Rating for the property is pending and will be made available in due course