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NE11 0RU

Retail for sale

£118,500
-
Total price
1207Sq Ft
Space

SELF CONTAINED OFFICE INVESTMENT - GATESHEAD

Fully let to P G Legal (CRN 07483704) on a 6 year lease which expires on 5 December 2025 with tenant only break on 6 December 2022.

Offers sought in excess of £118,500, which equates to a net initial yield of 10%, after allowing for purchasers costs

LOCATION

Team Valley Trading Estate is the North East's premiere commercial estate covering 285 hectares and housing in excess of 650,000 m2 of commercial accommodation. The Estate lies to the south of the Newcastle and Gateshead conurbation and adjacent to the A1.

Marquis Court & Willow Court are located in a prominent position on Team Valley between Kingsway South and Marquis Way and lies within easy walking distance of Team Valley Retail World.

DESCRIPTION

The office comprises modern two storey office premises providing open plan accommodation and benefiting from own front door, independent gas fired heating and WC and kitchen facilities. Car parking is available within a central courtyard.

Other tenants of note within the development include Pin Point Recruitment, Changing Lives and Pertemps.

TENURE

The property is held by way of a long ground lease dated 1 March 1990 at a peppercorn rent.

The occupational lease is to P G Legal Limited on a 6 year FRI lease (3 year break) from 5 December 2019.

The passing rent is £12,070 per annum

Listed Features

  • Modern Design
  • Heating
  • General Retail
  • No FRI Lease
  • Kitchen
  • Open Plan
  • Office
  • Outdoor Space
  • Use Class - A1
  • Parking
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