To Let (by assignment)Industrial/Warehouse

Modern facility with offices and secureyardUnit 1 Princes Park, Princes Way, Team Valley Trading Estate, Gateshead, NE11 0NF

3,276 Sq M (35,263 Sq Ft)•0.17 Ha (0.43 Acre) secure rear yard•Premier business park location•Good access to A1(M)•

Lambert Smith HamptonSecond Floor, 41-51 Grey Street, Newcastle Upon Tyne NE1 6EE T +(0)191 232 6291

Unit 1 Princes Park, Princes Way, Team Valley Trading Estate, Gateshead, NE11 0NF

Location

Team Valley is generally regarded as the premier businesspark within the North East region being home to over700 businesses and employing over 20,000 people. Itoffers a range of amenities to meet the needs of itsworkforce including Retail World, the Premier Inn as wellas food outlets and leisure facilities.

The park is bounded on the west side by the A1 andtherefore offers excellent access throughout the regionand is also well located for bus routes. Newcastle CityCentre and Newcastle International Airport are alsowithin close proximity.

The unit occupies a prominent position at the end ofPrinces Park but also benefits from access to a rear yardfrom Second Avenue.

Description

The property comprises an industrial/warehouse unitconstructed in two bays of steel portal frameconstruction under dual pitched roofs incorporatingtranslucent light panels.

It benefits from a minimum eaves height of 6.0m risingto 9.75m at the apex and two roller shutter doors 4.78mwide by 5.09m high, accessed from Second Avenue via asecure rear tarmac yard of circa 0.17 ha (0.43 acres).

The front of the property incorporates a two storey officefacility which is accessed from a forecourt parking areawith space for approximately 30 vehicles. The offices areconstructed to a good standard to include full carpeting,air conditioning cassettes, suspended ceiling withmodular light fittings, trunking and the usual welfarefacilities.

AccommodationThe approximate principle gross internal floor areas areas follows:-

Floor Area Sq M Sq FtGround Floor Industrial/Warehouse2,689.39 28,949Ground Floor Offices 293.16 3,156First Floor Offices 293.16 3,156Total 3,276.1 35,263

VAT

All prices, premiums and rents etc. are quoted exclusiveof VAT at the prevailing rate.

Legal Costs

Each party to be responsible for their own legal costsincurred in any transaction.

Business Rates

Our internet enquiry reveals that the premises areassessed in the 2017 Rating List as follows:-

Warehouse & PremisesRateable Value: £162,000

Tenure

The premises are available by way of an assignment ofour client's lease which is for a term of 15 years from 1stMay 2014 at a passing rent of £160,000 per annumwhich is subject to review on 1st May 2019. The lease isdrawn on Full Repairing and Insuring Terms and there isa tenant's option to break the agreement on 1st May2024. There is also service charge provision to cover theupkeep of the common areas of the estate.

Energy Performance Certificate (EPC)

The property has a rating of C-63. A copy of the EPC isavailable upon request.

Viewing and Further InformationViewing strictly by prior appointment with the soleagent:

Andrew WrightLambert Smith Hampton0191 338 8320awright@lsh.co.uk

Unit 1 Princes Park, Princes Way, Team Valley Trading Estate, Gateshead, NE11 0NF

Side View

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Rear Yard

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© Lambert Smith HamptonDisclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that:(i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer

or contract.(ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory

or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property.

(iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all.

(iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position.(v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising

from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH.(vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities,

infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.

Unit 1 Princes Park, Princes Way, Team Valley Trading Estate, Gateshead, NE11 0NF

Internal photo

Image Copyright reproduced by LSH

29th January 2019