Chillingham Industrial Estate, Back Chapman Street, Byker, Newcastle upon Tyne, NE6 2XT

Lot Image

Auction sale - Monday 13th July 2015

Result:

Sold Post

Upon the instructions of


  • Freehold commercial ground rent investment
  • Producing £227.88 per annum
  • Highly reversionary in 5.5 years
  • Let to G4S Security

Addendum

The rent stated in the catalogue is incorrect and should be £223.74 please refer to the documents provided in the legal pack.
The plan in the catalogue is incorrect, please refer to the plan in the legal pack.

Details

Location

The city of Newcastle upon Tyne has a population of around 300,000 and lies alongside the A1 and A19 trunk roads so providing easy access to the north and the south. The city has two leading universities with over 55,000 students as well as two major regional hospitals and a Premier League Football Club. The city has enjoyed much regeneration including the newly developed Quayside with further inner city development taking place at the Stephenson Quarter and Science Central. The city is renowned for its nightlife and attracts 20 million visitors a year. The city lies on the main east coast rail line and is served by its own Metro Rail services, an international airport and passenger and freight ferry services with Europe from North Shields. The Chillingham Industrial Estate lies off the busy Shields Road in the Byker area of the City. Immediately opposite is a large new retail park with Marks & Spencer, TK Max, ASDA and B&M as well as a large Siemens works and immediately adjacent to the property is the entrance to the Chillingham Road Metro station.

Description

The property occupies a prominent corner site of approximately 37,400 sq ft (3,474.54 sq m), upon which there is an end of terrace steel framed warehouse unit, two storey office and other adjoining buildings and a small well secured rear yard with vehicle access.

Tenure

Freehold.

Planning Authority

Newcastle City Council (0191 278 7878) www.newcastle.gov.uk.

VAT

VAT is not applicable to this lot.

Energy Performance Certificate

For EPC Rating please see website.

Address Accommodation Tenant Lease Terms Rent £ pa
TOTAL £227.88
St Annes Works Site area 37,400 sq ft (3,474.54 sq m) Warehouse/offices/anc 27,689 sq ft (2,572.37 sq m) G4S Cash Services (UK) Ltd 99 years from 29/09/1921 (5.5 years to reversion) £227.88
The property has a rateable value of £40,000.

Contact

Seller's solicitor

Newcastle Legal Services

Danielle Hadden

0191 211 5161

danielle.hadden@newcastle.gov.uk

* Guide price

The guide price is an indication of the minimum price at which, or if a guide price range is given, within which, the seller is prepared to sell at the date of publication. The guide price is not an anticipated sale price or valuation. All prices quoted are subject to contract.

* Reserve price

The reserve price is the minimum price acceptable to the seller and the price below which the auctioneer cannot sell.

Both the guide and reserve may be subject to change up to and including the day of the auction. The guide price does not include either VAT which may apply to the sale or other amounts the seller may charge. The seller’s Special Conditions of Sale and addendum if any, will state whether there are other seller’s charges and whether the seller has elected to charge VAT on the sale price. On the fall of the hammer a buyer’s fee is payable of £990 inclusive of VAT.

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