Light industrial for sale in Jedburgh Court, Gateshead NE11

Location

The property is located on Jedburgh Court within Team Valley Trading Estate which is the premier mixed use business location in the region, totaling around 280 hectares (700 acres) and is home to a wide variety of businesses and surrounding occupiers include Sainsbury’s, Pooleys Puffers, Flow Subsea, Eureka Golf, Howdens and Magnet Kitchens.

The property is situated just 0.1 mile from Kingsway. Road links to all parts of the region and beyond are excellent via the A184 and A1(M) which links to the A19 and A189. The estate is well served by regular bus services.

Description

The property comprises an end terrace industrial unit of steel frame construction with park brick infill walls and plastercised corrugated steel cladding to the walls and roof. Internally, the property is well presented and is predominantly open plan with a treatment room.

Externally, the property benefits from a roller shutter door and car parking facilities.

Accommodation

Ground floor 94.3m² 1,015ft²

Rating assessment

The rateable value of the premises as at 1 April 2023 is £8,400 and the estimated rates payable for the current year is £4,191.60. This is based on the standard Small Business Rate of 49.9p in the pound, however, interested parties should confirm the current position with the Local Authority.

EPC rating

Awaiting EPC Rating.

Tenancy information

The property is let to Eves Emporium at a rent of £7,500 per annum. The lease started on 17th February 2020 and expires 16th February 2025.

Terms

The property is available with a guide price of £100,000 (One Hundred Thousand Pounds). This equates to a net initial yield of 7.37% assuming purchaser’s costs at 1.8% The property is held long leasehold for a term of 125 years and 3 days from 30th June 1987 at a peppercorn rent.

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.

Anti-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.