Fifth Ave | Gateshead NE11 0XA
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Fifth Ave
Gateshead NE11 0XA
The Edge · Office Property For Sale
Investment Highlights
- High specification, Grade A office accommodation located in a prominent, highly accessible business location within Team Valley.
- The ground floor is currently fully leased on a new 10-year term to SpaMedical (5-year break clause).
- Located adjacent to the A1 Western Bypass, the office offers excellent road accessibility with over 34 buses per hour also serving the site.
- Offering open-plan, fully fitted office accommodation on the first floor benefitting from office partitions, air conditioning, and kitchen facilities.
- Enjoy an excellent range of amenities with Retail World, Valley Parade, Valley Farm pub/restaurant nearby, and a hotel and health club at Maingate.
Executive Summary
A new 125-year-long leasehold interest is available at a guide price of £1,250,000. The current ground rent is £5,000 per annum for the building. The ground floor premises are let to SpaMedica with medical use on a new 10-year lease with a 5-year break clause.
The first floor accommodation is also available for lease.
The first floor accommodation is also available for lease.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Building Size
15,938 SF
Building Class
B
Year Built/Renovated
1990/2021
Price
£1,250,000
Price Per SF
£78
Percent Leased
49%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
7,969 SF
Building FAR
0.12
Lot Size
3.03 AC
Parking
38 Spaces (2.38 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Raised Floor
- Security System
- Kitchen
- EPC - C
- Reception
- DDA Compliant
- Lift Access
- Natural Light
- Open-Plan
- Partitioned Offices
- Shower Facilities
- Air Conditioning
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