A semi-detached industrial unit constructed in approximately 1970 around a steel frame, clad in brick and breeze block with profile steel sheeting over. The frame supports a stress beam flat roof insulated with circa 5% roof lights. Access is via two roller shutter doors.
The property has gas fired heating, is lit by suspended fluorescent strip lights and has a reinforced concrete floor together with a small secure storage area with mezzanine over. Eaves height is approximately 5.5 m (18 ft).
Externally the property has a good sized secure yard.
Location
Bracken Hill is on the South West Industrial Estate which is adjacent to the A19 (a dual carriageway between Thirsk and Newcastle upon Tyne). Access to the A19 is excellent which is a short distance away. Properties in the surrounding area are in mixed commercial use, with nearby occupiers including Plumb Center,
Howdens Joinery, Screwfix and Quay Plastics, to name but a few.
Peterlee is approximately 24 km (15 miles) south of Newcastle upon Tyne and 96 km (60 miles) North of Leeds. Teeside Airport is approximately 16 km (10 miles) to the south.
Accommodation
We have valued the property on the basis of the floor area figures set out below, which we have measured on site and are the gross internal floor areas measured in accordance with the RICS Code of Measuring Practice, published in August 2007 (6th Edition) as updated.
Warehouse - 991.177 sq m (10,669 sq ft)
In addition to the above, there is a small mezzanine area.
Terms
Tenure - The property is freehold.
Price - Offers are invited in the region of £628,000, reflecting a net initial yield of 6.5%, subject to contract and exclusive of VAT assuming standard purchasers costs at 5.13%.
Tenancy - Let to Personnel Hygiene Services Limited for a term of 20 years with effect from 27 May 2010 at a rental of £43,086.92 per annum and subject to rent review at the greater of OMR or RPI.
Specification
- Clinical waste transfer investment
- D&B Rating N1 covenant
- Let to Personnel Hygiene Services Limited for a term of 20 years with effect from 27 May 2010 at a rental of £43,086.92 per annum and subject to rent review at the greater of OMR or RPI
- Established industrial estate
- Potential expansion land (STPP)