Unit 7 Victoria Industrial Estate Hebburn Newcastle Upon Tyne Tyne and Wear NE31 1UB

Unit 7 Victoria Industrial Estate
Hebburn
Newcastle Upon Tyne
Tyne and Wear
NE31 1UB

Freehold Ground Rent Investment

  • Let to Oak Engineering Company Limited
  • Lease expires April 2078 (approximately 62 years unexpired)
  • Rent Review April 2019 and 10 yearly thereafter
  • Site area approximately 0.23 hectares (0.58 acres)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    23
  • Auction
    13th October 2016
  • Rent
    £3,100 per Annum Exclusive
  • Status
    Sold
  • Price
    £85,000
  • Sector
    Ground Rent
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Ground Rent Investment

  • Let to Oak Engineering Company Limited
  • Lease expires April 2078 (approximately 62 years unexpired)
  • Rent Review April 2019 and 10 yearly thereafter
  • Site area approximately 0.23 hectares (0.58 acres)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 23
  • Auction 13th October 2016
  • Rent
  • Status Sold
  • Price £85,000
  • Sector
    Ground Rent
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG

Property Information

Location
Miles
7 miles south-east of Newcastle City Centre, 10 miles north-west of Sunderland, 17 miles north of Durham
Roads
A19, A184, A185, A1(M), A194(M)
Air
Newcastle International Airport
Situation

The property is situated on the established Victoria Industrial Estate, accessed from the western side of Shields Road (A185), to the south of Hebburn town centre. The property benefits from excellent road communications with the A185 connecting to both A19 to the north and A184 to the south, with A194(M) being just 1.5 miles away. Hebburn benefits from the Tyne & Wear Metro system with a station provided at Hebburn town centre and Heworth to the west. Other occupiers on the estate include Biz-Space & South Tyneside Primary Care Trust.

Tenure

Freehold.

Location
Miles
7 miles south-east of Newcastle City Centre, 10 miles north-west of Sunderland, 17 miles north of Durham
Roads
A19, A184, A185, A1(M), A194(M)
Air
Newcastle International Airport
Situation

The property is situated on the established Victoria Industrial Estate, accessed from the western side of Shields Road (A185), to the south of Hebburn town centre. The property benefits from excellent road communications with the A185 connecting to both A19 to the north and A184 to the south, with A194(M) being just 1.5 miles away. Hebburn benefits from the Tyne & Wear Metro system with a station provided at Hebburn town centre and Heworth to the west. Other occupiers on the estate include Biz-Space & South Tyneside Primary Care Trust.

Tenure

Freehold.

Description

The property comprises a large industrial unit arranged on the ground, mezzanine and first floors, benefiting from roller shutter loading doors and an enclosed yard with parking for approximately 11 cars. The property benefits from a site area of approximately 0.23 hectares (0.58 acres).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a large industrial unit arranged on the ground, mezzanine and first floors, benefiting from roller shutter loading doors and an enclosed yard with parking for approximately 11 cars. The property benefits from a site area of approximately 0.23 hectares (0.58 acres).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
Ground Floor
Mezzanine
First
Warehouse/Workshop/Office
Ancillary
Ancillary
1,439.86 sq m
40.04 sq m
352.83 sq m
(15,499 sq ft)
(431 sq ft)
(3,798 sq ft)
OAK
ENGINEERING
COMPANY
LIMITED (1)
99 years from
27/04/1979 on a full
repairing and insuring
lease (2)
£3,100 27/04/2019 and 10
yearly thereafter (3 )
(27/04/2078)
Totals  
1,832.73 sq m
(19,728 sq ft)
    £3,100  

(1) For the year ending 30th April 2015, Oak Engineering Company Limited reported a turnover of £594,185 and pre-tax profits of £68,479 (Source: Experian Group 09/09/2016).
(2) Please note that the landlord insures the property and recovers the premium from the tenant.
(3) The rent is reviewed on an upward only basis every 10 years to the greater of: (a) the amount of rent payable under the lease immediately prior to the expiration of the rent review year in question; and (b) the amount of the current annual market value – please see rent review clause in lease.

Property Documents

  • Catalogue Page
    Updated Date
    21.09.16
    File Size
    561 KB
    View PDF
  • Site Plan
    Updated Date
    21.09.16
    File Size
    53 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Associate Auctioneers
Browns Commercial 6 Innovation Court, Yarm Road
Stockton on Tees
TS18 3DA
Simon Brown 01642 607607 simon.brown@brownscommercial.co.uk
Seller's Solicitors
Pinsent Masons LLP The Soloist, 1 Lanyon Place
Belfast
BT1 3LP
Felicity Cinnamon 02890 894 903felicity.cinnamon@pinsentmasons.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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