Industrial

Unit 30 Drum Industrial Estate, Chester-Le-Street DH2 1AG

 

Quoting Price: £1,745,000 - Initial Yield:6.25%

Acting on behalf of Evolve Estates we are instructed to market this well secured North East industrial investment opportunity.

The property comprises a detached industrial warehouse with two-storey ancillary office accommodation totalling 14,906 sq ft (1,384.78 sq m) GIA on a self-contained site. Let to DX Network Services Limited on a 10-year lease expiring 24th December 2030, with a tenant break option on 24th December 2025 providing approximately 9.25 years to expiry and 4.25 years to break. Current passing rent of £115,848 per annum which represents £6.76 per sq ft (allowing for low site cover).

Offers sought in excess of £1,745,000 (One Million, Seven Hundred and Forty-Five Thousand Pounds) subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 6.25%, after deduction of purchaser’s costs of 6.20%, equating to a low capital value of £117 per sq ft

Contact

Simon Lewis

Tel: 020 7493 3330
Mob: 07831 527 960
slewis@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk


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