1 Octavian Way Team Valley Trading Estate Gateshead Tyne & Wear NE11 0HZ

  • 1 Octavian Way<br>Team Valley Trading Estate<br>Gateshead<br>Tyne & Wear<br>NE11 0HZ

1 Octavian Way
Team Valley Trading Estate
Gateshead
Tyne & Wear
NE11 0HZ

Well Located Industrial Investment

  • Let to Ace Windows (NE) Limited until July 2031 (subject to option)
  • Circa. 6,901 sq ft, with parking to the front for about 15 cars
  • Recently refurbished building
  • Established Industrial trading location
  • Nearby occupiers include Halfords Autocentre, Topps Tiles, Rexel, Eurocell, Hermod, Homebase, Decathlon and Marks & Spencer
  • Lot
    22
  • Auction
    12th December 2024
  • Rent
    Gross: £38,750 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees of a Charity
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Well Located Industrial Investment

  • Let to Ace Windows (NE) Limited until July 2031 (subject to option)
  • Circa. 6,901 sq ft, with parking to the front for about 15 cars
  • Recently refurbished building
  • Established Industrial trading location
  • Nearby occupiers include Halfords Autocentre, Topps Tiles, Rexel, Eurocell, Hermod, Homebase, Decathlon and Marks & Spencer
  • Lot 22
  • Auction 12th December 2024
  • Rent Gross: £38,750 per Annum Exclusive
  • Status Sold Prior
  • Price  
  • Sector
    Trade Counter/Builders Merchants, Industrial
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees of a Charity

Property Information

Location
Miles
5 miles south of Newcastle upon Tyne, 11 miles west of Sunderland, 14 miles north of Durham
Roads
A1 (Junction 67), A194(M), A692
Rail
Dunston Railway Station
Air
Newcastle International Airport
Situation

The property is prominently situated to the east of Octavian Way, in the heart of Team Valley Trading Estate, an established industrial location. The property benefits from excellent communication links being within close proximity to A1 (Junction 67), A194(M), and less than 5 miles south of Newcastle-upon-Tyne. Nearby occupiers include Halfords Autocentre, Topps Tiles, Rexel, Eurocell, Hermod, Homebase, Decathlon and Marks & Spencer.

Tenure

Leasehold. Held for a term of 125 years (less 3 days) from 30/09/1988 at a peppercorn rent.

Location
Miles
5 miles south of Newcastle upon Tyne, 11 miles west of Sunderland, 14 miles north of Durham
Roads
A1 (Junction 67), A194(M), A692
Rail
Dunston Railway Station
Air
Newcastle International Airport
Situation

The property is prominently situated to the east of Octavian Way, in the heart of Team Valley Trading Estate, an established industrial location. The property benefits from excellent communication links being within close proximity to A1 (Junction 67), A194(M), and less than 5 miles south of Newcastle-upon-Tyne. Nearby occupiers include Halfords Autocentre, Topps Tiles, Rexel, Eurocell, Hermod, Homebase, Decathlon and Marks & Spencer.

Tenure

Leasehold. Held for a term of 125 years (less 3 days) from 30/09/1988 at a peppercorn rent.

Description

The property comprises a large warehouse/showroom/exhibition centre arranged on the ground and first floors. The property benefits from parking to the front for about 15 cars, and an approximate eaves height of 5.71 metres.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band E

Description

The property comprises a large warehouse/showroom/exhibition centre arranged on the ground and first floors. The property benefits from parking to the front for about 15 cars, and an approximate eaves height of 5.71 metres.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band E

Tenancy & Accommodation

Floor Use Gross Internal Floor Areas
Approx sq m
Gross Internal Floor Areas
(Approx sq ft)
Tenant Term Rent p.a.x. Rent Review
Ground
First
Warehouse
Ancillary/Showroom/Exhibition Centre
559.20
81.96
(6,019)
(882)
ACE WINDOWS (NE) LIMITED
(1)
10 years from 01/08/2021 (2)
£38,750
01/08/2026
Total  
641.16
(6,901)
   
£38,750
 

(1) Ace Windows (NE) Limited were established in 1972, and supply and install a high quality range of windows, doors and conservatories throughout the North East and surrounding areas, including Gateshead, Newcastle, North Shields, South Shields, Sunderland, Consett, Durham and Lower Northumberland (www.acewindowsne.co.uk).
(2) The lease is subject to a tenant option to determine on 01/02/2027.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Alexander AuteracAlexander Auterac +44 (0)20 7034 4859 +44 (0)7713 135 034alexander.auterac@acuitus.co.uk
Seller's Solicitors
Mincoffs LLP 5 Osborne Terrace
Newcastle upon Tyne
Tyne and Wear
NE2 1SQ
Leanne Kettlewell 0191 212 7723lkettlewell@mincoffs.co.uk

Useful Links

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

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