Business Park For Sale   |   Anick Road, Hexham, North East, NE46 4TU   |   Offers in Region of £4,200,000

Summary

Tenancy & Income Profile

Beaufront Business Park provides a highly diversified multi-let investment with approximately 48 occupational interests, ranging from smaller growing businesses through to established regional and national occupiers.

The estate is anchored by Fentimans, which occupies approximately 7,000 sq ft within Fearless House, together with additional accommodation and parking across the development.

The current tenancy schedule shows approximately £375,379 per annum in occupational rents, together with approximately £27,373 per annum in service charge income, producing a total gross income of approximately £402,752 per annum.

Lease arrangements across the estate provide a mixture of flexibility and longer-term income security, with occupational terms ranging from approximately 12 months to 17 years within the current schedule.

The diversity of accommodation and tenant sizes reduces reliance upon any single smaller occupier, while the established presence of Fentimans provides a significant anchor to the scheme.

At the asking price of £4,200,000, the total gross income equates to approximately 9.6% of the purchase price, prior to purchaser's costs.

The Property

Beaufront Business Park provides approximately 37,000 sq ft of accommodation across a substantial 1.8-acre site.

The accommodation incorporates a mixture of:

- Self-contained office buildings
- Multi-let serviced and flexible offices
- Storage accommodation
- Small light industrial units
- Communal and ancillary areas
- Extensive private on-site parking

The variety of accommodation enables the estate to cater for businesses at different stages of growth, from smaller occupiers requiring flexible office space through to established businesses seeking larger self-contained premises.

The park provides an attractive and professional working environment with well-presented accommodation, landscaped surroundings and ample parking throughout the development.

At the asking price of £4.2 million, the current gross income of £403,000 per annum represents an approximate gross yield of 9.6%, before purchaser's costs.

The extensive tenant base provides diversification across a broad range of businesses and lease lengths, while the combination of established tenants and shorter flexible occupational arrangements provides opportunities for active asset management.

Location

Beaufront Business Park occupies an established commercial location on Anick Road on the northern edge of Hexham, immediately adjacent to the A69 Trans-Pennine route.

The A69 provides the principal east-west connection between Newcastle upon Tyne and Carlisle, connecting with the A1 to the east and providing onward connections towards the M6 to the west.

Newcastle upon Tyne is approximately 23 miles east, while Carlisle lies approximately 38 miles to the west.

Hexham railway station is approximately 1 km from the property, providing services along the Tyne Valley Line between Newcastle and Carlisle.

Hexham is an established Northumberland market town and an important commercial, retail and tourism centre serving a substantial surrounding catchment.

Beaufront Business Park therefore combines an accessible strategic location with the benefits of being close to Hexham town centre, while retaining immediate access to the regional road network.

The wider area continues to benefit from public and private investment, including investment in Hexham and wider Northumberland infrastructure and regeneration.

Additional Information

For further information on this property please call 01157342000 or e-mail enquiries@lester-bingley.co.uk