Industrial to let in Kingsway Central, Team Valley, Gateshead NE11

Location

The subject property is located on Kingsway in Team Valley Trading Estate, Gateshead. Team Valley Trading Estate is the north east’s premier business centre and home to over 700 businesses with nearby occupiers including Bellway North East, Best at Hire, hss Hire and dhl Parcel UK.

The property Is prominently located on Kingsway which is the main road through the trading estate, linking with the A1(M) to the north and south as well as Gateshead town centre and A184 to the north. Kingsway is serviced by local bus routes and there is a bus stop within 60 yards.

Description

The original unit is of traditional steel portal frame design with external steel cladding and roof and brick built two storey office/reception/canteen to the front of the building. The factory accommodation provides an eaves height of 7.5m and ridge height of 9m.

Internally the building has been fitted out to provide an integral high care, panel-walled cold storage unit for food processing.

The integral fit out has been constructed with reduced ceiling height to assist optimal temperature cooling with refrigeration and air handling units installed throughout. Further details of specification can be provided. The rear of the cold store provides a delivery bay and external skip store secured by palisade fencing. Additional benefits include: CCTV throughout, security and fire alarm systems, steam room and roller shutter access to the rear.

The building provides 3 phase electricity supply with a power output of 1473 kva.

Accommodation

Factory 3,588m² 38,619ft²
Office Ground Floor 361m² 3,887ft²
Office First Floor 361m² 3,887ft²
Total 4,310m² 46,392ft²

EPC rating

Awaiting EPC Rating.

Rating assessment

Description rv Estimated Rates Payable
Factory and Premises £249,000 £127,488

We are advised that the rateable value of the premises as at 1 April 2017 is £249,000 and we have estimated the actual rates payable for the current year above. This is based on the Large Business Rate of 51.2p in the pound. However, interested parties should confirm the current position with the Local Authority.

Terms

The property is available by way of a lease assignment at a rent of £249,112 (Two Hundred and Forty Nine Thousand, One Hundred and Twelve Pounds) per annum. The current lease expires on 14th October 2030 with a break clause at 14th October 2026.

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

Legal costs

Each party is to bear their own legal costs involved in the transaction.

Money laundering regulations

In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.