Geoffrey Rhodes Centre 46 to 60 Algernon Street, Byker Newcastle upon Tyne NE6 2UZ

Geoffrey Rhodes Centre
46 to 60 Algernon Street, Byker
Newcastle upon Tyne
NE6 2UZ

Freehold Medical Investment let to the NHS

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
Auction Venue
Live Streamed Auction

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Freehold Medical Investment let to the NHS

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

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

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.