Multi Let Industrial Investment & Land for Sale

Multi Let Industrial Investment & Land For Sale

INVESTMENT SUMMARY DESCRIPTION • Three industrial units with adjacent land The subject property comprises three industrial units which form a terrace. Each of the units benefit • Total size of 605.9m² (6,522ft²) from roller shutter door access and an open external yard area which is partly utilised for parking. The units were constructed in 2012 and are of brick construction to the bottom portion with a steel • Additional land comprising approx. 0.226 acres roof and top portion. • May be suitable for development STPP • Current passing rent of £25,600 per annum. There is also additional hardstanding land adjacent to the site with perimeter palisade fencing, • We are instructed to seek offers in excess of £325,000 equating to which may be suitable for development subject to planning permission. a net initial yield of 7.61% assuming purchasers costs at 3.47%.

• Based on an ERV of £31,200 per annum, this would reflect a ACCOMMODATION 13a Castle Island Way 198.9m² 2,141ft² reversionary yield of 9.27%. 13b Castle Island Way 198.9m² 2,141ft² 13c Castle Island Way 208.1m² 2,240ft² LOCATION Total 605.9m² 6,522ft² The subject properties are located on Castle Island Way in North Seaton, External yard 0.226 acres 9,786ft² Ashington. Castle Island Way is situated within very close proximity to North Seaton Industrial Estate which is a popular and established industrial and ACCOMMODATION AND TENANCY INFORMATION

business location in Ashington with local and national occupiers including Tenant Unit Rent (PCM) Rent (PA) Lease Terms

B&M Home Store, Kingston Kia, Franks The Flooring Store, North East Mr Paul Dixon 13a £400 £4,800 15 years from 29 December

Caravans and Wansbeck Garden Centre. T/a Acorn Timber 2011. Rent review every 5th

anniversary

Castle Island Way is accessed via Freeman Way which is a main road through Mr Alex Raine 13b £866.66 £10,400 5 years from 29 June 2019.

North Seaton Industrial Estate and links with Newbiggin Road (B1334) which T/a North East Hydraulics Rent review every

anniversary in turn links directly with A189 and is serviced by local bus routes. Pegswood Mr Malcom George Wake 13c £866.66 £10,400 3 years from 1 April 2019. Train Station is 5.3 miles from the west. T/a Macs Auto Supplies Rent review in March 2020.

Total £2,133 £25,592 The properties are situated in the south of Ashington, close to the River

Wansbeck, 1.8 miles from Ashington town centre, 6.7 miles east of Morpeth EPC and 4.5 miles north east of Bedlington. Awaiting EPC Ratings.

Bus stops located 0.4 miles 5.3 miles from Pegswood Train 1 mile from A189 17 miles from Newcastle away Station 1 mile from A196 International Airport

TERMS The properties are available by way of freehold interest with offers invited in excess of £325,000 (Three Hundred and Twenty Five Thousand Pounds).

VAT All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

LEGAL COSTS Each party is to bear their own legal costs involved in the transaction.

MONEY LAUNDERING REGULATIONS In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.

VIEWING For general enquiries and viewing arrangements please contact Nicholas Bramwell or Jamie Wales at Bradley Hall.

Tel: 0191 232 8080 Email: [email protected]

IMPORTANT NOTICE Bradley Hall for themselves and for the Vendors or Lessors of this property whose agents they are give notice that: 1) the particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute part of an offer or contract. 2) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and their details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3) no person in the employment of Bradley Hall has any authority to make or give any representation or warranty whatever in relation to this property of these particulars nor enter into any contract relating to the property on behalf of Bradley Hall, nor any contract on behalf of the Vendor. 4) no responsibility can be accepted for any expenses incurred by intending purchasers or lessees in inspecting properties which have been sold, let or withdrawn. Registered in England No. 07236458 1 Hood Street, Newcastle upon Tyne, NE1 6JQ

1 Hood Street, Newcastle upon Tyne, NE1 6JQ | 0191 232 8080 | [email protected] www.bradleyhall.co.uk