1 Fiennes Road, North West Industrial Estate, Peterlee
Description
Modern high bay distribution unit located on North West Industrial Estate, Peterlee, a popular and successful estate benefitting from near full occupation
100,340 sq ft on a site extending to 5.17 acres with service loading and 8m eaves and 11.3m to apex
Highly accessible with excellent connectivity to the A19 and A1(M)
Freehold
EPC – B
The property benefits from 0.88 acres of expansion land providing room to further extend the unit to the rear
Let to TSP Fulfilment Ltd at a low commencing rent of £5.01 per sq ft
8.5 years to expiry and 3.5 years to break
Recent rental evidence for comparative units
We are instructed to seek offers in excess of £6,275,000 (Six Million Two Hundred and Seventy Five Thousand Pounds) reflecting a NIY of 7.50% after standard purchaser’s costs of 6.63%.
100,340 sq ft on a site extending to 5.17 acres with service loading and 8m eaves and 11.3m to apex
Highly accessible with excellent connectivity to the A19 and A1(M)
Freehold
EPC – B
The property benefits from 0.88 acres of expansion land providing room to further extend the unit to the rear
Let to TSP Fulfilment Ltd at a low commencing rent of £5.01 per sq ft
8.5 years to expiry and 3.5 years to break
Recent rental evidence for comparative units
We are instructed to seek offers in excess of £6,275,000 (Six Million Two Hundred and Seventy Five Thousand Pounds) reflecting a NIY of 7.50% after standard purchaser’s costs of 6.63%.
BUILDING HIGHLIGHTS
Modern high bay distribution unit
Freehold
Let to TSP Fulfilment Ltd
8.5 years to expiry
