£7,045,000
(£48.52/sq. ft)
Property for saleAzure Court, Doxford International Business Park, Sunderland SR3
145,200 sq. ft
About this property
Located in a strategic logistics location with excellent access to the A19 & A1(M)
The property is single let to Kinaxia Logistics & Fulfilment Ltd with c. 4.70 years unexpired on the lease and guaranteed by Kinaxia Transport & Warehousing Ltd
Significant reversionary potential - low passing rent of £461,000 per annum (£4.50 per sq ft)
Freehold site which extends to 6.43 acres (2.6 hectares) and benefits from a low site coverage of 43% and full 360 circulation
Significant tenant commitment to the building - May 2026 break notice was not served and tenant expending capital on building to improve operational efficiency
The lease is excluded from Sections 24-28 of the Landlord & Tenant Act 1954
Offers in excess of £7.045m, reflecting a net initial yield of 6.14%, day 1 reversionary yield on completing the rent review of 7.84% and a reversionary yield of 9.83% on letting the office space.
Quoting reflects a very low capital value of £48.52 per sq ft.
Strategically located, single let industrial investment extending to 145,200 sq ft, let to Kinaxia Logistics with 4.70 years unexpired on the lease.
Offers in excess of £7.045m, reflecting a net initial yield of 6.14%, day 1 reversionary yield on completing the rent review of 7.84% and a reversionary yield of 9.83% on letting the office space.
Quoting reflects a very low capital value of £48.52 per sq ft.
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