Industrial for sale in Forge Road, Gateshead NE8

Offers over £825,000 (£20.2/sq. ft)
Industrial for sale 40,833 sq. ft*
Interested in this property? Call +44 191 686 9887 * or Request Details

* Calls to this number will be recorded for quality, compliance and training purposes.

Property description

Location


The property is located to the rear of Forge Road, Dunston, which is circa 250m from A1 (M), providing excellent communication links both North and South throughout the region. Newcastle upon Tyne is circa 2 miles north and Gateshead is circa 1.5 miles to the north east. The surrounding area is a combination of both residential and light commercial, including car showroom / sales and trade counter. The subject site fronts onto the busy A184 link road, offering good passing traffic and visibility. The exact location is shown on the attached plan.


Description


Formerly operated as an indoor go-carting centre (FK1) for many years, the existing tenants undertook an extensive refurbishment to open up the existing facility, approximately a year ago. The subject property is constructed of a steel portal frame design with brickwork infill walls and asbestos cement sheet over, incorporating roof lights. Internally the property is open plan and has undergone an extensive fitout to provide a modern trampoline and soft play operation, including additional office and amenity facilities. (full details on the fit out can be provided). Externally the site benefits from a large secure car park outside the main entrance, with a smaller secure service yard to the rear. The surrounding site is secure with fencing and soft landscaping.


Accommodation


From onsite measurements, it is understood that the unit has the following gia:

Trampoline Park and Facilities

total gia: 3,793.50 M2 (40,833 sq ft)

total site area: 0.91HA (2.24 acres or thereabouts)


Services


It is understood that all main services are connected to the unit.


Business rates


From the vo Website we understand that the unit has a rv assessment of £82,500.


Tenure


The property is held on a long leasehold agreement (TY133975) for a term of 99 years effective from 17 October 1969, subject to 20-year rent review pattern, with the next review in 2029. The current ground rent payable is £16,000 pa. Verbal discussions with Gateshead Council have indicated that the long leasehold agreement can be extend to 99 years subject to payment.


Occupational lease


The premises are let in their entirety to Jump Giants Newcastle Limited (Company No: 10684734) on a 15-year Fri lease effective from 1 August 2016, expiring 31 July 2031 at a passing rent of £100,000 pa, subject to upward only reviews in 1.8.2021 / 2025 & 2028.

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Price


Long Leasehold offers are sought in excess of £825,000 (subject to contract).


Energy performance certificate


C-72. (Full details upon request)


Legal costs


The purchaser will be responsible for any legal / professional fees together with any VAT thereon incurred in the preparation of the disposal.


VAT


All figures are quoted exclusive of VAT.


Viewing


Strictly by prior arrangement only – further information available from Frew Pain & Partners:

James E F Pain
Tel: Email:

Or joint Agents

Fergus Laird (Naylors Gavin Black)
Email:
Tel: July 2021

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Frew Pain & Partners, NE1 on +44 191 686 9887 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Frew Pain & Partners, and do not constitute property particulars. Please contact Frew Pain & Partners for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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