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Turbine Business Park, Nissan Way, Washington, Sunderland, SR5
SOLD 21,512 sf
Industrial Investments for Sale
Turbine Business Park, Nissan Way, Washington, Sunderland, SR5
SOLD
Landlord recently agreed a deed of variation which moved the April 2024 break option to April 2027. The 2024 rent review was agreed at a low level reflecting £6.00 per sq ft and therefore offers excellent reversionary prospects.
We are instructed to seek offers in excess of £1,735,000 (One Million Seven Hundred and Thirty Five Thousand Pounds) reflecting a Net Initial Yield of 7.00% after standard purchaser costs of 6.20%.
The property comprises a detached predominantly single storey industrial unit built in 2014. It is clad in metal sheeting under a flat steel roof incorporating solar PV panels. The accommodation has been divided into four parts to provide open plan office accommodation and three warehouse/ workshop bays with concrete floors and six roller shutter doors. There is a staff breakout area and plant room to the first floor. The eaves height varies between 6.5m and 9.4m. Externally there is a concrete surfaced and enclosed service yard with a 24m turning circle. The tenant has the right to park 46 cars in the main car park.
Location
Prime modern single let industrial unit in the prime industrial location for the North East of England.Highly accessible unit with excellent links to the A19, A1231 and A1(M).
Adjacent to the 3.89 million sq ft Nissan Plant and with further significant industrial development taking place at the nearby Hillthorn Business Park and International Advanced Manufacturing Park.Washington is located between the A1(M) and the A19, within the boundaries of Sunderland which lies 4 miles to the east. Washington is situated approximately 6 miles south-east of Newcastle upon Tyne and 9 miles north-east of Durham City. Washington has a population of 53,000 persons (Census 2011). Newcastle International Airport is situated approximately 12 miles north-west and there are Inter-City rail stations at Newcastle and Durham, in addition to major port facilities both on the River Tyne and at Sunderland.
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Investment property for SaleSunderlandWashingtonTurbine Business Park, Nissan Way, Washington, Sunderland, SR5SOLD