PRIME AUTOMOTIVE INVESTMENT Silverlink Business Park, Middle Engine Lane, Newcastle Upon Tyne, NE28 9NZ
PRIVATE CLIENT PRIME AUTOMOTIVE INVESTMENT Silverlink Business Park, Middle Engine Lane, Newcastle upon Tyne, NE28 9NZ 15 years unexpired let to Honda (no breaks) with fixed uplifts PRIVATE CLIENT INVESTMENT CONSIDERATIONS ■ The property occupies a prominent position within ■ Annually compounded 2% fixed uplifts every 5 years ■ Offers sought in excess of £3,310,000 (Three Million an established Automotive Business Park just outside with a minimal rental uplift to £233,768 pa in 2023 Three Hundred and Ten Thousand Pounds) subject of Newcastle City Centre ■ Let until 2033 with no breaks to contract and exclusive of VAT. This reflects a net ■ Let to the excellent covenant of Honda Motor Europe initial yield of 6%, after allowing for purchaser’s costs ■ Expanding Business Park with a new Jaguar showroom of 6.52%. Limited who reported an annual turnover of £5.9 being constructed opposite the subject property billion in 2018 with a pre-tax profit of over £112 million The investment shows the below yield profile based ■ Surrounding occupiers include Aston Martin, Porsche, ■ on the fixed uplifts: Currently sub-let to Vertu Motors trading as Audi, Bentley, Mini, Toyota, BMW and Volkswagen a Vertu Specialist Cars dealership Date NIY ■ Extensive site area of approximately 1.376 acres (0.56 24th June 2018 6.00% ■ Current rent passing £211,731 pa hectares), providing a low site coverage of circa 19% 24th June 2023 6.63% ■ 24th June 2028 7.32% Freehold ■ The property provides 12,677 sq ft GIA (1,178 sq m) of car showroom, workshop space and ancillary accommodation PRIVATE CLIENT VERTU SPECIALIST CARS, SILVERLINK BUSINESS PARK, PRIME AUTOMOTIVE INVESTMENT 15 YEARS UNEXPIRED MIDDLE ENGINE LANE, NEWCASTLE UPON TYNE, NE28 9NZ LET TO HONDA (NO BREAKS) WITH FIXED UPLIFTS LOCATION Located on the north bank of the River Tyne, the City of Newcastle-upon-Tyne is the regional and economical capital of the North-East of England.
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