Property photos
Guide price
£1,400,000
Office for sale
Patrick House, Gosforth Park Avenue NE12Local area information
Property location
Nearby amenities
- TLG Newcastle 0.4 miles
- Balliol Primary School 0.6 miles
- Manors 3.1 miles
- Newcastle 3.6 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Fixed 8% Uplifts 3-yearly
- Credit Safe Score 77/A (homecare plus lts).
- Credit Safe Score 56/B (hold group limited).
- Freehold interest.
- Highly Reversionary
The property comprises a modern, high specification, two storey office.
• Well located in a popular business park, with generous demised car parking.
• Net internal area of 762 sqm (8,200 sq ft).
• The property is occupied by two established businesses, Homecare Plus Ltd and Hold Group Ltd.
• Investment Proposal: Unbroken 10-Year term with 3-yearly 8% uplifts in rental tone.
Year 1: £140,000 per annum (£17.07 per sq ft) / Net Initial Yield 9.43%
Year 3: £151,200 per annum (£18.43 per sq ft) / Net Initial Yield 10.18%
Year 6: £163,296 per annum (£19.91 per sq ft) / Net Initial Yield 11.00%
Year 9: £176,359 per annum (£21.50 per sq ft) / Net Initial Yield 11.88%
We are instructed to seek offers in the region of £1,400,000 (One Million, Four Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 9.43% assuming purchasers costs of 6.05%.
• Well located in a popular business park, with generous demised car parking.
• Net internal area of 762 sqm (8,200 sq ft).
• The property is occupied by two established businesses, Homecare Plus Ltd and Hold Group Ltd.
• Investment Proposal: Unbroken 10-Year term with 3-yearly 8% uplifts in rental tone.
Year 1: £140,000 per annum (£17.07 per sq ft) / Net Initial Yield 9.43%
Year 3: £151,200 per annum (£18.43 per sq ft) / Net Initial Yield 10.18%
Year 6: £163,296 per annum (£19.91 per sq ft) / Net Initial Yield 11.00%
Year 9: £176,359 per annum (£21.50 per sq ft) / Net Initial Yield 11.88%
We are instructed to seek offers in the region of £1,400,000 (One Million, Four Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 9.43% assuming purchasers costs of 6.05%.
More information
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