£1,025,000
(£71.18/sq. ft)
Property for saleBlackhall Colliery Industrial Estate, Hackworth Road, Blackhall Colliery, Hartlepool TS27
14,400 sq. ft
About this property
Rare opportunity to acquire an established multi-let industrial estate
Strategically located within 4 miles of the A19
12 unit multi-let industrial estate of 14,400 sq ft on a freehold site of 1.82 acres
11 of 12 units let (94% by area) to 11 occupiers, with no tenant above c. 15% of income
Total income of £83,381 per annum with a reserved erv of £94,000 per annum
WAULT to expiry of 1.68 years & 1.61 years to break
Four leases (c.43% of income) expire in 2027, all below erv, so re-gear opportunities are imminent
Over 60% of the income contracted out of the Landlord and Tenant Act 1954
Historically strong tenant retention across the estate with asset management opportunities
Seeking offers in excess of £1,025,000 reflecting a net initial yield of 7.69%, a reversionary yield of 8.67% off a low capital value of £71.20 per sq ft.
Rare opportunity to acquire an established multi-let industrial investment in County Durham extending to 14,400 sq ft.
Strong tenant retention across the estate, reversionary with asset management opportunities. Over 60% of the income contracted out of the Landlord and Tenant Act 1954.
Seeking offers in excess of £1,025,000 reflecting a net initial yield of 7.69%, a reversionary yield of 8.67% off a low capital value of £71.20 per sq ft.
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