F20 Willow Court, Marquis Court, Team Valley Trading Estate, Gateshead, Tyne And Wear, NE11 0RU
Fully let to R Walker and Co (North East) Limited (CRN 04287674) by way of a five year lease which expires on 24th July 2028.
The occupational lease is contracted outside of the protection of the Landlord and Tenant Act 1954.
6 dedicated parking spaces.
Passing rent - £12,000 per annum.
Ideal for Pension Fund Purchase
Offers sought in excess of £135,000, which equates to a net initial yield of 8.73%, after allowing for purchasers' costs.
Fergus Laird
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Location
Team Valley Trading Estate is the North East's premiere commercial estate covering 285 hectares and housing in excess of 650,000 m2 of commercial accommodation. The Estate lies to the south of the Newcastle and Gateshead conurbation and adjacent to the A1.
Marquis Court & Willow Court are located in a prominent position on Team Valley between Kingsway South and Marquis Way and lies within easy walking distance of Team Valley Retail World.
Description
The office comprises modern two storey office premises providing open plan accommodation and benefiting from own front door, independent gas fired heating and WC and kitchen facilities. Car parking is available within a central courtyard.
Other tenants of note within the development include Beckwith and Hanlon, Changing Lives and Pertemps.
Terms
The property is held by way of a long ground lease dated 1 March 1990 at a peppercorn rent.
The occupational lease is to R Walker and Co (North East) Limited (CRN 04287674) by way of a five year term expiring 24th July 2028 with tenant option to break at year 3 (24th July 2026) on giving no less than 6 months' notice.
The passing rent is £12,000 per annum.