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Newton Aycliffe

Newton Aycliffe Industrial Estate, Aycliffe Business Park, Newton Aycliffe DL5 6DE

Status: Sold

Date: 01 December, 2012

Type: Industrial

Details: Download PDF

Newton Aycliffe Industrial Estate

  • Major provincial multi-let industrial estate, Sold for Valad Property Group for £11.85m

  • Newton Aycliffe Industrial Estate forms part of the Aycliffe Business Park which is the second largest industrial estate in the North East region.
  • Aycliffe Business Park is a key component of the North East economy extending to 672 acres and is the home of 250 companies employing 8,000 people.
  • Aycliffe Business Park has recently been boosted by Hitachi Trains decision to build a new 450,000 sq ft facility on the Park.
  • The industrial estate has excellent communication links being situated adjacent to jct 59 of the A1(M).
  • The investment offering comprises 84 units with a total gross internal floor area of 658,007 sq ft with individual unit floor areas ranging from 1,046 sq ft – 56,107 sq ft.
  • The estate includes development sites totalling 18.85 acres.
  • The estate is let to a total of 47 tenants with 19 vacant units.
  • The total rent reserved under the leases is £1,744,041 pax (£3.17 per sq ft). We consider the current ERV of the 84 units to be £2,125,424 pax (£3.23 per sq ft).
  • The tenants are mix of local, regional and national companies.
  • The property offers a purchaser numerous asset management opportunities including:
    • refurbishment and letting vacant units
    • negotiating the removal of tenant break options
    • relocating tenants within the extensive ownership
    • extending existing lease terms
    • development sites