An opportunity to acquire a modern, income-producing industrial investment situated within the well-established Wansbeck Business Park, Ashington, Northumberland.
The property comprises a high-specification industrial warehouse extending to approximately 23,778 sq ft (1,987 sq m) on a 0.40-acre secure site with dedicated parking and a fenced service yard. Constructed in the early 2000s, the building provides modern warehouse, production and office accommodation, benefiting from two electric loading doors, LED lighting, gas heating, eaves heights of approximately 5.3m rising to 7m, and circa 40% roof-mounted solar panels, generating an additional income stream.
The estate is strategically positioned adjacent to the A189 Spine Road, providing excellent access to the A19, A1(M) and the wider North East, with Newcastle upon Tyne approximately 15 miles to the south.
The property is fully let to Northumbrian Ice Cream Company Limited (trading as Polar Krush Group), a long-established operator within the UK food and beverage sector, which has occupied the premises for over 20 years. The current lease expires on 31 May 2035, with a passing rent of £132,000 per annum (£5.97 per sq ft), a rent review in October 2029, and an estimated rental value of £7.00 per sq ft. The property is held on a 125-year leasehold interest from 19 July 2005 at a peppercorn ground rent.
Offers are sought in excess of £1,775,000 (One Million Seven Hundred and Seventy-Five Thousand Pounds), exclusive of VAT, reflecting a Net Initial Yield of 7.00%, assuming purchaser's costs of 6.21%, and a Reversionary Yield of 8.22%. This equates to a capital value of £80.22 per sq ft.
