Two industrial/warehouse units of steel portal frame construction with brick and profile sheet clad roof. Minimum eaves height of 3.2m rising to 4.1m at the apex. Attached to unit 5 is a two storey office block under a flat roof. Externally unit 5 has a tarmac forecourt providing staff and customer parking.
- Ref: 2078506
- Tenure: Leasehold
- Types: Industrial Investment
- Size: 12,310 sq ft
- Freehold: £375,000 for the long leasehold
Key Features
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Established industrial and trade counter location
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Two 1970s industrial units
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Let to two trade counter operators
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Unit 5 let to Newcastle Heating & Plumbing Ltd
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Unit 20 let to Plumbase
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Low rent of £4.54 per sq ft
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WAULT 2.84 years to expiry (1.86 years to break)
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Total gross rent £56,000 pa (Net rent £42,000 pa)
Location
5 & 20 Penn Street, Newcastle Upon Tyne, North East, NE4
The property is located on Penn Street off Dunn Street which is accessed via Scotswood Road approximately 1.25 miles south west of Newcastle City Centre. It is in the heart of a trade area with nearby occupiers including Howdens, Tool Station and Auto Windscreens.
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