Unit 2 Victoria Industrial Estate Hebburn Newcastle Upon Tyne Tyne and Wear NE31 1UB

Unit 2 Victoria Industrial Estate
Hebburn
Newcastle Upon Tyne
Tyne and Wear
NE31 1UB

Freehold Ground Rent Investment

Let to Be Modern Properties Limited
Lease expires September 2107 (approximately 91 years unexpired)
Rent Review September 2017 and 5 yearly thereafter
Site area approximately 0.31 hectares (0.79 acres)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
94
Auction
13th October 2016
Rent
£9,935 per Annum Exclusive
Status
Sold
Price
£205,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Interested?

Expand
Photos
Map

Freehold Ground Rent Investment

Let to Be Modern Properties Limited
Lease expires September 2107 (approximately 91 years unexpired)
Rent Review September 2017 and 5 yearly thereafter
Site area approximately 0.31 hectares (0.79 acres)
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 94
Auction 13th October 2016
Rent £9,935 per Annum Exclusive
Status Sold
Price £205,000
Sector
Ground Rent
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG

Property Information

Location

Miles: 7 miles south-east of Newcastle City Centre, 10 miles north-west of Sunderland, 17 miles north of Durham
Roads: A19, A184, A185, A1(M), A194(M)
Air: Newcastle International Airport

Situation

The property is situated on the established Victoria Industrial Estate, accessed from the western side of Shields Road (A185), to the south of Hebburn town centre. The property benefits from excellent road communications with the A185 connecting to both A19 to the north and A184 to the south, with A194(M) being just 1.5 miles away. Hebburn benefits from the Tyne & Wear Metro system with a station provided at Hebburn town centre and Heworth to the west. Other occupiers on the estate include Biz-Space & South Tyneside Primary Care Trust.

Tenure

Freehold.

Location

Miles: 7 miles south-east of Newcastle City Centre, 10 miles north-west of Sunderland, 17 miles north of Durham
Roads: A19, A184, A185, A1(M), A194(M)
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property comprises a large industrial unit (used mainly as a storage warehouse) arranged on the ground, mezzanine and first floors, benefiting from roller shutter loading doors and an enclosed yard with parking for approximately 30 cars. The property benefits from a site area of approximately 0.31 hectares (0.79 acres).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
Ground Mezzanine First	Industrial/Ancillary Industrial/Ancillary Industrial/Ancillary	1,500.61 sq m 219.98 sq m 90.76 sq m	(16,153 sq ft) (2,368 sq ft) (977 sq ft)	BE MODERN PROPERTIES LIMITED (1)	125 years from 06/09/1982 on a full repairing and insuring lease (2)	£9,935	06/09/2017 and five yearly thereafter (2) (06/09/2107)
Totals		1,811.36 sq m	(19,498 sq ft)			£9,935

1) For the year ending 9th May 2015, Be Modern Properties Limited reported a total net worth of £4,272,216 (Source: Experian Group 09/09/2016). The property is used mainly as a storage facility.
(2) The rent is reviewed every 5 years to 14% of the Rack Rent of Land and Buildings - please see rent review clause in lease. Please note that the landlord insures the property and recovers the premium from the tenant. The tenant has sublet the property at a rent of £40,000 per annum.