Schiedel Head Office, Crowther Road, Crowther Road Industrial Estate Washington Tyne and Wear NE38 0AQ

Schiedel Head Office, Crowther Road, Crowther Road Industrial Estate
Washington
Tyne and Wear
NE38 0AQ

Freehold Industrial Investment

Let to Schiedel Chimney Systems Limited until 2029
Potential to expand both the buildings and the parking (subject to consents)
Excellent access to Newcastle city centre and the A1(M)
Established industrial estate with nearby occupiers including Canford Group plc, Volvo, John Dickinson Stationery and Knowledge IT
Minimum fixed rental increase in 2014
Six Week Completion Period Available

Lot
30
Auction
18th October 2011
Rent
£362,050 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Instructions from Dudley Holme-Turner and Andrew Marsden of Cushman & Wakefield LLP as Joint LPA Receivers

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Freehold Industrial Investment

Let to Schiedel Chimney Systems Limited until 2029
Potential to expand both the buildings and the parking (subject to consents)
Excellent access to Newcastle city centre and the A1(M)
Established industrial estate with nearby occupiers including Canford Group plc, Volvo, John Dickinson Stationery and Knowledge IT
Minimum fixed rental increase in 2014
Six Week Completion Period Available

Lot 30
Auction 18th October 2011
Rent £362,050 per Annum Exclusive
Status Sold Post
Price
Sector
Industrial, Warehouse
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP
On Instructions from Dudley Holme-Turner and Andrew Marsden of Cushman & Wakefield LLP as Joint LPA Receivers

Property Information

Location

Miles: 7 miles south of Newcastle, 7 miles west of Sunderland
Roads: A1(M), A194(M), A1231, A182, A195
Rail: Heworth Rail Station, Newcastle Rail Station
Air: Newcastle International Airport

Situation

Washington is well situated close to both Newcastle upon Tyne and Sunderland and has good communications links via the A1(M) and A19 allowing for easy access to the North-East. The property is situated on an established industrial estate where other occupiers include Canford Group plc, Volvo, John Dickinson Stationery and Knowledge IT.

Tenure

Freehold.

Location

Miles: 7 miles south of Newcastle, 7 miles west of Sunderland
Roads: A1(M), A194(M), A1231, A182, A195
Rail: Heworth Rail Station, Newcastle Rail Station
Air: Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial production warehouse with office accommodation and benefits from 2 loading bays and 2 vehicle access doors. An additional warehouse unit has been erected which benefits from 4 vehicle access doors and an eaves height of approximately 6 metres. The property has a site area of some 3.2 hectares (7.9 acres) and a site coverage of approximately 40 The property also benefits from parking for some 23 cars.

Note:
This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Unit	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground Ground Additional Warehouse	Production Warehouse Office Storage	8,745 sq m 996 sq m 2,500 sq m	(94,133 sq ft) (10,721 sq ft) (26,910 sq ft)	SCHIEDEL CHIMNEY SYSTEMS LIMITED (With guarantee) (1) (2)	25 years from 15/06/2004 until 2029	£362,050 (3)	14/06/2014 and 5 yearly (3)
Totals		12,241sq m	(131,764 sq ft)			£362,050 (3)

(1) The original tenant (Rite Vite Limited) and its guarantor (Schiedel Rite-Vent Limited), guarantee the current tenant under an AGA.
(2) Schiedel is a new name in the UK and Ireland but a company with a long and trusted reputation in Europe. The company started in Germany in 1947 and is now the market leader in Europe for chimney systems. (Source: www.schiedel.co.uk/about-schiedel 15/09/2011)
(3) Under the terms of the lease, the rent is subject to a minimum fixed rental increase of £409,625 per annum on 14th June 2014.