Under Offer

Investment Opportunity, Lustrum House Sedgefield Way, Stockton on Tees TS18 2SG

13,705 Sq Ft
£1,460,000
  • Ref: CPNE_101813
  • Type: Industrial
  • Availability: Under Offer
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Property Features

  • 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%)

Property Summary

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 acros...

Full Details

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
three units.

> 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.

Accommodation:
Lustrum House: 11,905.00 sqft
1 Sedgefield Way: 1,800.00 sqft
Total: 13,705.00 sqft