Units 1-3 Rotary Way
Gosforth
Newcastle upon Tyne
NE3 5EH

Newly Developed Multi-let Drive-Thru Investment

  • Strategically located on A1, 2 miles north of the City Centre
  • Affluent area of Newcastle
  • Comprises 3 units totalling 3,400 sq ft on a site of approximately 0.69 acres
  • Multi-let to three tenants including Costa and Subway
  • 64% of income secured against Costa Limited until at least 2028 (91/2 years term certain)
  • Rent
    £112,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,800,000
  • Sector
    Motor Trade/Petrol Station
  • Units 1-3 Rotary Way<br>Gosforth<br>Newcastle upon Tyne<br>NE3 5EH
  • Expand
  • Photos
  • Map

Proposal

  • We are seeking offers in excess of £1,800,000 subject to contract and exclusive of VAT. A purchase at this level will reflect a Net Initial Yield of 5.86% after standard purchaser’s costs.

Property Information

Location
2 miles north of Newcastle City Centre, 14 miles north-west of Sunderland, 17 miles north of Durham
A1, A1(M)
Newcastle International Airport (2 miles to the west)
Situation

The immediate area is an established roadside convenience location with neighbouring occupiers including McDonald’s, Co-op Petrol Station, Falcons Nest Public House and Travelodge.

Tenure

Freehold.

Description

The property comprises three newly developed purpose built units, one of which benefits from being constructed as a drive-thru. The development was completed in July 2018 and benefits from 37 car parking spaces and an approximate site area of 0.28 hectares (0.69 acres).

VAT

VAT is applicable to this lot.

Note

It is therefore anticipated that the sale will be treated as a transfer of a going concern (TOGC).

EPC

Copies of the Energy Performance Certificates are available on request.

Tenancy & Accommodation

UnitFloor Areas (Approx)TenantTermStart dateExpiry
(break date)
RentRent ReviewsComments
1
167.00 sq m
(1,798 sq ft)
Costa Limited15 years25/06/201824/06/2033
(25/06/2028)*
£72,00025/06/2023 &
25/06/2028
Rent free expiring 24/04/2019 -
to be topped up by Vendor.
2
75.00 sq m
(807 sq ft)
Subway Realty Limited15 years28/05/201827/05/2033
(28/05/2023 &
28/05/2028)
£20,00028/05/2023 &
28/05/2028
3
75.00 sq m
(807 sq ft)
Individual15 years25/05/201824/05/2033
(25/05/2028)
£20,00025/05/2023
Total
317.00 sq m
(3,412 sq ft)
£112,000

Property Documents

  • Site Plan
    Updated Date
    29.11.18
    File Size
    769 KB
    View JPG
  • Catalogue Page
    Updated Date
    29.11.18
    File Size
    3 MB
    View PDF

Contacts

Acuitus
Will MooreWill Moore +44 (0)20 7034 4858 +44 (0)7899 877 224will.moore@acuitus.co.uk

Useful Links

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