Summary - Tyne View House / 23 , Mitre Place, South Shields, Tyne & Wear, NE33 5SH NE33 5SH
1 bed 1 bath Light Industrial
Low passing rent with near-term rent-review upside close to Port of Tyne.
Freehold light-industrial investment, circa 12,788 sq ft
A rare freehold light-industrial investment in an established South Shields commercial estate, Tyne View House and 23 Mitre Place offer large, versatile warehouse/workshop space with strong transport links. The steel portal frame was recently strengthened and the insulated roof replaced, benefitting from LED lighting, translucent panels and 3-phase electricity. Vehicle access is straightforward with multiple electric roller shutters, a secure yard and dedicated parking. The combined footprint is sizeable (circa 12,788 sq ft) and immediately usable for trade, storage or light manufacturing.
The assets are let on full repairing and insuring leases to the occupier-directors of Alpha Paints Ltd and Garden Lane Garages Ltd, creating an uncomplicated income profile. Passing rent is low at £50,000 pa (£3.91 psf) with upward-only market rent reviews due in early 2027, 2030 and 2033 — the vendor states potential reversion to over 9% at the 2027 reviews, presenting near-term upside for an active investor.
Buyers should note material tenancy and location considerations. Both leases are in the personal names of the occupiers (director-tenants), which concentrates tenant risk and may affect assignability or lender appetite. The income is below typical market levels now, so value depends on successful rent reviews and tenant stability. The site sits in a very deprived, industrial area with above-average local crime; the setting is functional rather than amenity-rich.
This is a practical acquisition for an investor seeking a low-maintenance, freehold industrial holding with tangible reversionary upside from scheduled reviews. It will suit buyers who can carry occupational risk through the review period or who can actively manage lettings at review dates.
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