Outstanding investment opportunity comprising 42,945 Sq ft (3989.70 Sq m) of manufacturing facility, workshops and offices set within a site area of 3.03 acres. Let to an established firm who have occupied the site for over twenty years on a 15 year lease at £175,000 per annum. Situated in Talke opposite the Affinity (formerly Freeport) shopping centre and immediately adjacent to B&Q this rare opportunity, will suit local, regional and national investors seeking an investment with security, growth and opportunity.

Description:

The Property sits on a rectangular site having frontage to Oak Tree Lane of approximately 70 metres and and a developed site area of 0.986 hectares (2.44 acres). Additionally there is an area of land measuring 0.24 hectares (0.59 acres) at the lower part of the site. There are two car parks, one at the top near to the main entrance and another opposite the reception doorway. This car park has a capacity of 42 spaces with a visitor’s car park of 7 spaces.

Constructed approximately 35 years ago, the main manufacturing facility/workshop is of steel frame construction with partial brick and metal external cladding. The offices are situated on the end of the building and are two storey with windows overlooking trees and beyond that; fields. The Property has a pitched steel clad roof. with the workshop areas being split into two parts with a step in floor levels. The higher level has a roller shutter door, whilst the lower level can be accessed by two independent stairways from the offices. The lower area has vehicular access via a roller shutter door with a canopy in front. The office accommodation within the building has been sub-divided to provide a canteen, store area, board room and sales area on the ground floor with offices and a kitchen/staff area on the first floor.

Location:

The Property is located on Oak Tree Lane in Talke, six miles distance from Newcastle town centre on the western side of the A34 with good access to the A500 and junctions 15 and 16 of the M6 motorway. Affinity outlet shopping centre is located nearby as are other large occupiers including Jewson and B&Q.

Accommodation:

Upper Workshop: 21,513 Sq ft (1998.60 Sq m)
Lower Workshop: 11,780 Sq ft (1094.40 Sq m)
Ground Floor Offices: 3,732 Sq ft (346.69 Sq m)
First Floor Offices: 3,732 Sq ft (346.69 Sq m)
Mezz store (Upper Workshop): 1539 Sq ft (33.32 Sq m)
Canopy: 1830 Sq ft (170.00 Sq m)

TOTAL GIA: 42,945 Sq ft (3989.70 Sq m)

Rating:

The VOA website advises the rateable value for 2024/25 is £113,000. The standard non-domestic business rates multiplier is 54.6p. The small business multiplier is 49.9p up to a rateable value of £50,999. Small Business may benefit for upto100% on premises with a rateable value of up to £12,000 and a tapered relief for rateable values between £12,000 and £15,000.

Bjb recommends interested parties make their own enquiries into the business rate payable any further business rate relief which may be available.

Tenure - Freehold:

The property is held Freehold subject to a Full Repairing and Insuring Lease between our client (The Landlord) and Rackline Limited for a term of 15 years from 1st January 2024 at £175,000 per annum. The lease has provisions to review the rent to 'Market Rent every fifth anniversary of the term and there is a Tenants Break option on the 1st January 2032 subject to six months notice. This lease is a renewal of a previous lease.

Covenant:

Rackline Limited (Co No: 04697883) were established (in its present form) in 2003, thus being a longstanding and reputable company offering an excellent covenant strength to potential purchasers. Considered 'Below average risk' by Delphi with a score of 78 out of 100 with total assets amounting to £2,128,496.

Viewing:

Strictly by appointment via bjb commercial, Suite 1, Albion House, No.2 Etruria Office Village, Forge Lane, Festival Park, Stoke-on-Trent, ST1 5RQ
Telephone 01782 212201. Opening hours are 9.00-5.30pm, Monday to Friday.

Butters John Bee Estate Agents also offer a professional, ARLA accredited Lettings and Management Service. If you are considering purchasing your property in order to rent, are looking at buy to let or would like a free review of your current portfolio then please call the Lettings Branch Manager on the number shown above.

Butters John Bee Estate Agents is the seller's agent for this property. Your conveyancer is legally responsible for ensuring any purchase agreement fully protects your position. We make detailed enquiries of the seller to ensure the information provided is as accurate as possible. Please inform us if you become aware of any information being inaccurate.