A1 Marquis Court, Team Valley Trading Estate, Gateshead, Tyne And Wear, NE11
£114.44 per sq ft
Business rates & charges may apply
- SIZE AVAILABLE
2,403 sq ft
223 sq m
- SECTOR
Office for sale
Key features
- Let to DMC Accounting Services Limited (CRN 12568374) on a new 5 year lease without break expiring on 18 December 2027
- Delphi rating 81 - low risk
- 12 dedicated parking spaces
- Passing rent - £24,040 per annum (low passing rent of just £10psf)
- Ideal for pension fund purchase
- Offers sought in excess of £275,000, which equates to a net initial yield of 8.5% (after allowing for purchaser's costs) and a capital value of just £114.39 per sq ft.
Description
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 is 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 semi-detached two storey office premises providing open plan accommodation (part partitioned by the tenant) and benefiting from its own front door, independent gas fired heating and WC and kitchen facilities. Dedicated car parking is available within a central courtyard.
Other tenants of note within the development include, Kinetic PLC, Pin Point Recruitment, ADS Limited, Assure Surveys Limited and Changing Lives.
Tenure Comments
The property is held by way of a long ground lease dated 1 March 1990 at a peppercorn rent.
The buyer will be granted an underlease for a term expiring 21 February 2115. The underlease will be in the standard form of long underlease for the estate.
The occupational lease is to DMC Accountancy Services Limited, a full-service accountancy firm. More information can be found on their website Meet our Team of Chartered Accountants | About Us (dmcnorth.co.uk)
The lease is for a term of 5 years from 19thDecember 2022 without break. The tenant benefits from a 6-month rent free period from the date of completion of the lease, which will be topped up by the seller.
The service charge is capped at £2,500pa ex VAT increasing annually in line with RPI.
Current service charge is running at £2,049, so we anticipate the service charge cap is significantly higher than anticipated service
charge costs.
Brochures
A1 Marquis Court, Team Valley Trading Estate, Gateshead, Tyne And Wear, NE11
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Dunston Station2.0 miles
- Gateshead Stadium Tram Stop2.5 miles
- Felling Metro Station2.6 miles
About Naylors Gavin Black LLP, Newcastle Upon Tyne
Hadrian House, Higham Place, Newcastle Upon Tyne, NE1 8AF
As commercial property specialists for the North East, Naylors have their head office in the heart of Newcastle. The firm was founded twenty years ago by Bill Naylor, managing director, and has retained its independence, growing to become one of the most respected practices in the area.
This is reflected in Naylors being invited to represent the North East through membership of PAI, a prestigious organisation of like-minded professionals covering most of the Uk.
Today, Naylors han
Notes
Disclaimer - Property reference 2940FH. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Naylors Gavin Black LLP, Newcastle Upon Tyne. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Map data ©OpenStreetMap contributors.