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
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.
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
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.
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.
