Investment Opportunity, Lustrum House Sedgefield Way, Stockton on Tees TS18 2SG
- Portrack Interchange
- Prime, freehold mixed-use investment
- Anchored by secure, indexed income
- Let to 2 tenants
- WAULT of 13.35 yrs to expiry
- and 8.6 yrs to break
- NIY 7.02% (after purchasers costs 6.08%)
The subject property is located in Sedgefield Way, to the north of the A1046 Portrack Lane in the heart of Portrack Interchange Business Park, Stockton-On-Tees. Portrack Interchange is the undoubted prime commercial pitch for the Teesside region, with strong representation across the industrial, trade, retail warehousing and office sectors.
> A mixed use investment opportunity providing 13,705 sq ft of industrial, offices and workshop accommodation across
> Let to two tenants with a WAULT of 13.35 years to expiry (8.35 years to break).
> Located at Portrack Interchange Business Park, the absolute prime commercial location in Stockton On Tees.
> Majority (83%) let to the strong covenant of Integrated Utility Services Limited, part of the Northern Powergrid Group, on a new fifteen year lease with five yearly RPI-linked rent reviews (subject to tenant break at year ten).
> The asset comprises a mix of office (58.4%), industrial (21.2%) and workshop (20.4%) space, alongside secure
yardage and separate parking.
> Freehold with low site coverage of 33.2%.
> Offers sought in excess of £1,460,000 (One Million, Four Hundred and Sixty Thousand pounds), equating to a net initial yield of 7.02% after purchaser’s costs of 6.08%. The opportunity to acquire constituent parts may be entertained subject to vendor approval preference.
Lustrum House: 11,905.00 sqft
1 Sedgefield Way: 1,800.00 sqft
Total: 13,705.00 sqft