Activa beschrijving
Fully Occupied Office Campus Extending to 56 Acres with Significant Redevelopment Potential
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Attributen
Netto gebouwoppervlakte
91.237 vierkante meter
Bezetting
100%
Bouwjaar
1999
Media
Investeringshoogtepunten
- One of the most significant redevelopment sites in the regional markets
- A 56 acre site capable of supporting multiple uses including residential, offices, urban logistics and life sciences
- Let to Newcastle Estate Partnership Limited who have sublet to HMRC by way of a Private Finance Initiative
- Excellent urban location less than 3 miles from Newcastle City Centre
- Sub-tenant in full occupation with a break option in March 2027 and lease expiry in December 2027
- Initial rent of £561,732 pa in December 2024 rising to £2,084,030 pa in April 2025 and to £2,972,906 pa in November 2027
- Low passing rent of only £4.50 psf compared to prime business park rents of £16.50 psf
- Long leasehold in excess of 200 years with no onerous clauses or any head rent payable
- Total minimum cumulative rent receipt over term to break is £4,052,789
- Total minimum cumulative rent receipt over term to lease expiry is £6,401,550
- Fully let, high specification offices creating a dominant business park location
- We are instructed to seek unconditional offers for our client's long leasehold interest
Contact makelaars
Benton Park View, Longbenton, Newcastle NE98 1ZZ (0 Eigendommen)
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Laatst bijgewerkt
Oct 25, 2023
