Tyneview Park, Benton, Newcastle Upon Tyne NE12 9TR_Property for Sale
Tyneview Park, Benton, Newcastle Upon Tyne NE12 9TR_Property for Sale
Whitley Road Benton, Newcastle Upon Tyne, NE12 9TR, UK

Tyneview Park, Benton, Newcastle Upon Tyne NE12 9TR

Asset Description

Fully Occupied Office Campus on a 20 Acre Site with Excellent Alternative Use Potential

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Attributes

Building area net
25,655 m²
Occupancy
100%
Year built
1995
Land area gross
8 ha

Media

Investment Highlights

  • 20 acre site with excellent alternative use potential
  • Low passing rent of only £4.50 psf compared to prime business park rents of £16.50 psf
  • Let to Newcastle Estate Partnership Limited who have sublet by a Private Finance Initiative to DWP
  • 100% occupied by DWP
  • Excellent urban location less than 4 miles from Newcastle City Centre, 5 miles from the A1(M) via the A191 and Benton Metro Station being within 0.4 miles
  • Long leasehold with in excess of 220 years remaining - the head lease has no onerous use clauses or any head rent payable
  • Sub-tenant in full occupation with mutual break in January 2025 and lease expiry in December 2027
  • 4 high specification buildings and on-site amenity constructed between 1995 and 2003 and extending to 276,148 sq ft in total
  • Current passing rent of £981,395 per annum
  • Minimum rent roll to break of £1,002,904
  • Minimum rent roll to lease expiry of £3,944,000
  • Recent Taylor Wimpey scheme in the micro location consisting of 75 dwellings
  • We are instructed to seek unconditional offers for our client's Long Leasehold interest

Contact brokers

Tyneview Park, Benton, Newcastle Upon Tyne NE12 9TR (0 Properties)

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Last updated
25 Oct 2023