Entirely let to the NHS Trust until 2039 (Subject to Option)
Gross Internal Area of approximately 1,920 sq m (20,676 sq ft)
Site area approximately 3,975.93 sq m (42,797sq ft)
1.5 miles east of the city centre
Neighbouring occupiers include McDonald's, Iceland Foods, B&M home store, JD Sports, Pets at Home, M&S and Asda
May benefit from longer term redevelopment (subject to consents)
Lot 10
Auction 25th March 2021
Rent £90,000 per Annum Exclusive
Status Sold
Price £1,050,000
Sector Medical Centre/Doctors, Healthcare
Auction Venue Live Streamed Auction
Property Information
Location
Miles
1.5 miles east of Newcastle City centre
18 miles north of Durham
59 miles east of Carlisle
Roads
B1312, A193, A167(M)
Rail
Chillingham Road and Byker Underground stations, Newcastle Train Station (London Kings Cross - 3 hours)
Air
Newcastle International Airport
Situation
The property is prominently located on the east side of Algernon Road with frontages to Tynemouth Road to the north and St Mark's Street to the south. The property is located in a predominantly residential area 1.5 miles east of the city centre, adjacent to Byker industrial estate and Newcastle shopping park 200 metres to the east with occupiers including JD Sports, Pets at Home, M&S and Asda. Other neighbouring occupiers include McDonald's, Iceland Foods, Shell and B&M home store.
Tenure
Freehold.
Location
Miles
1.5 miles east of Newcastle City centre
18 miles north of Durham
59 miles east of Carlisle
Roads
B1312, A193, A167(M)
Rail
Chillingham Road and Byker Underground stations, Newcastle Train Station (London Kings Cross - 3 hours)
Air
Newcastle International Airport
Situation
The property is prominently located on the east side of Algernon Road with frontages to Tynemouth Road to the north and St Mark's Street to the south. The property is located in a predominantly residential area 1.5 miles east of the city centre, adjacent to Byker industrial estate and Newcastle shopping park 200 metres to the east with occupiers including JD Sports, Pets at Home, M&S and Asda. Other neighbouring occupiers include McDonald's, Iceland Foods, Shell and B&M home store.
Tenure
Freehold.
Description
The property comprises a regular and level site of approximately 3,975.93 sq m (42,797sq ft) upon which is a series of buildings used as a NHS Clinic and stores for distribution of a wide range of equipment for use by NHS customers. Installation, maintenance and repair is also undertaken at the property. The property benefits from car parking and may also benefit from longer term redevelopment (subject to consents).
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Description
The property comprises a regular and level site of approximately 3,975.93 sq m (42,797sq ft) upon which is a series of buildings used as a NHS Clinic and stores for distribution of a wide range of equipment for use by NHS customers. Installation, maintenance and repair is also undertaken at the property. The property benefits from car parking and may also benefit from longer term redevelopment (subject to consents).
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Tenancy & Accommodation
Use
Gross Internal Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/ (Reversion)
Clinic and Stores
1,920 sq m
(20,676 sq ft)
Newcastle City Health National Health Service Trust
40 years from 28/09/1999 on a full repairing and insuring lease (1)(2)
£90,000
5 yearly reviews (27/09/2039)
Total
1,920 sq m
(20,676 sq ft)
£90,000
(1) The lease provides for a tenant option to determine on 28/09/2024. (2) 18 years unexpired term (subject to option)
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
