Back to search results1 WESTERBY ROAD, MIDDLESBROUGH, TS3 8TD
£490,000
Key information
- industrial / investment
- Middlesbrough
- 18292 sqft
- Light Industrial Investment
- Established Location
- Rental Income of £40,000 per annum
- GIY 8.16%
- Let to Learning Curve Group Limited.
- Reversionary Rent
- Tenant published after tax profits of £3.4 million (End of Jan 2023)
Description
Light Industrial Investment in an established location. Rental income of £40,000 per annum . GIY of 8.1%. Let to Learning Curve Group Limited. Reversionary rent.
Brochure
Location
The property is located in Middlesbrough, which is positioned close to the mouth of the River Tees and forms part of Teesside, 23 miles south of Sunderland, 12 miles north east of Darlington and 44 miles north of York.
1 Westerby Road is situated on the edge of Skippers Lane Industrial Estate, a well established trading estate approximately 2 miles east of Middlesbrough town centre home to a number of national and regional occupiers including Halfords Autocentre, Toolstation, Autoglass and Virgin Media.
The location enjoys excellent access to the A66 Trunk Road and the premises benefit from excellent visibility to South Bank Road. Occupiers in close proximity include MB DIY, Starbucks, Dulux Decorator Centre, Screw Fix and Ford.
Description
The property comprises a light industrial unit with integrated two storey office block to the front elevation and workshop to the rear. Occupied for a number of years by the well established Learning Curve Group, the property is currently in use as a training centre.
The offices are arranged to provide reception area, several small office suites and toilets on the ground floor together with several classrooms and toilet facilities on the first floor.
The warehouse has been partitioned by the tenant to provide individual workshops and classroom/training spaces.
Accommodation
Office 577.16 sq m ( 6,212 sq ft)
Warehouse 1,122.26 sq m (12,080 sq ft)
Total 1,699.42 sq m (18,292 sq ft)
Tenure
The premises are fully let to Learning Curve Group Limited by way of a 5 year Full Repairing and Insuring Lease from 23 March 2022 at a reversionary rent of £40,000 per annum. We would anticipate rental growth in the short term.
Learning Curve Group Ltd published a profits, after tax, in excess of £3.4 million for the year ended 31 January 2023. Further lease details are available on request from this office.
Proposed Terms
The freehold interest is available to purchase with offers invited over £490,000 reflecting a gross initial yield of 8.16%.
Rating Assessment
1 Westerby Road has a Rateable Value of £40,250. Interested parties should contact Middlesbrough Council to determine the exact rates payable.
VAT
All rents/prices quoted are exclusive of VAT if applicable.
Viewing
Strictly by appointment through this office
Contact Jack Robinson on:
01642 713303 / jack@thomas-Stevenson.co.uk
Subject to contract
- These particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract:
- Thomas Stevenson cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representation and must satisfy themselves as to their accuracy:
- No employee of Thomas Stevenson has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the authority.
- Prices/rents quoted in these particulars may be subject to VAT in addition; and
- Thomas Stevenson will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars.