Summary - 4, WALDRIDGE WAY NE34 9PZ
1 bed 1 bath Light Industrial
Single-let modern warehouse with rent-review upside and secure yard on prime estate.
Detached modern steel portal frame warehouse, 7,717 sq ft, 5m eaves height
3-phase power, LED lighting, translucent roof panels, mezzanine storage above offices
Secure concreted yard and private parking for up to 12 cars, HGV/van access
Let to GRC Filtration until 17 Oct 2030; lease by directors, FRI without schedule
Passing rent £52,000pa (£6.82psf); rent review due 18 Oct 2027 (upward-only OMV review)
Ground lease peppercorn to 25 June 2133 (108 years unexpired)
Area very deprived with higher crime levels and slow broadband speeds
VAT payable; offers invited in excess of £700,000 (exc. VAT)
This single-let, modern detached light industrial unit on Simonside East Industrial Estate offers a large, well-specified warehouse with strong access to the A19, Tyne Tunnel and Port of Tyne. The 7,717 sq ft unit has a 5.0m minimum eaves height (6.8m apex), 3-phase supply, LED lighting, translucent roof panels and a secure concreted yard with parking for up to 12 cars — practical for continuing trade use or long-term investment.
The property is held on a long ground lease (peppercorn rent) expiring in 2133 and is let to GRC Filtration (lease in directors’ names) until 17 October 2030. Passing rent of £52,000pa (£6.82psf) is notably low relative to replacement cost; there is an upward-only open market rent review due October 18, 2027, presenting a clear reversion opportunity for future income growth.
Important transactional and location considerations are straightforward: the lease is full repairing and insuring without a schedule of condition; a small portion of the mezzanine is a tenant addition; the area is very deprived with higher local crime levels and slow broadband speeds. VAT will be payable and offers are sought in excess of £700,000 (exc. VAT). This asset suits investors seeking a long-dated, estate-located income with medium-term rental upside, or an occupier prepared to assume the lease position at expiry.
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