Allison Court
Metrocentre, Gateshead, Tyne and Wear, NE11 9YSAsking Price £7,830,000
- Highly prominent roadside retail park investment park comprises 11 units extending to approximately 44,466 sq ft
- Located immediately adjacent to the 2 million sq ft Metrocentre, the UK’s 2nd largest shopping centre
- Also adjacent to the subjects are Metro Retail Park, Metro Park West, IKEA & Asda
- Attractive park with generous parking provision
- Direct access to Junction 71 of the A1
- Tenants include Halfords Autocentres, Evans Cycles, American Golf, BodyPower Sports, Hammonds Furniture, Alpkit and J&S Accessories
- WAULT of approximately 5.3 years (3.3 years to breaks)
- Asset management potential and proven reversion
- 999 year long leasehold interest – 960 years remaining
- Total income £626,366 per annum
- Offers in excess of £7,830,000 exclusive
- Attractive Net Initial Yield of 7.50%, with reversion to 8.34% at our opinion of ERV
