Property Detail

LOCATION

The site stands on the Bellway Industrial Estate about 5 miles from the centre of Newcastle. The site is situated just to the rear of the estate off the A191 close to its junction with the A186 and about 1 mile from the A19. The site stands in an established industrial area.

THE SITE

The site extends to approx. 7 acres and is currently occupied by former dairy premises comprising the main dairy block, single storey office building and separate warehouse units to the rear. The area of buildings currently on the site extends to something approaching 77,000sq.ft. (7,153sq.m.).

DEVELOPMENT POTENTIAL

The land and buildings lend themselves for refurbishment and alteration with possibly some demolition and new construction, together with further development on areas of currently open land. The immediate vicinity comprises predominantly modern industrial units. The site provides an ideal opportunity for substantial redevelopment of employment land.

TENURE

The property is leasehold registered under Title TY199623. The property is held on a lease dated 16 November 1987 between Asda Stores Ltd & Associated Dairies Ltd. The lease is for a term of 999 years from 1 August 1987 expiring on 20 August 2986. The ground rent is £2 per annum if demanded. The lease makes no reference to user but the tenant is obliged to observe the freehold covenants affecting use.

There are prohibitions in the freehold title for the sale of liquor and uses as a school, shop, cinema, theatre, fried fish shop are also prohibited.

By a conveyance dated 1 February 1974 it is understood that there is a covenant that the property will only be used for light industrial warehousing purposes.

By a coveyance dated 20 May 1975 the property is not to be used other than as a dairy producing pasteurised and sterilised milk and fruit juice for distribution in bottles and cartons and also for the production of dairy products. Consent can be sought from Bellway Holdings Ltd for a change of use, such consent not to be unreasonably withheld providing a change of user would not conflict with the principles of good estate management.

RATEABLE VALUE

It is understood that the property is assessed for rating purposes at rateable value £186,000.

PLANNING

The local planning authority is North Tyneside District Council. The property is zoned for employment use. From informal discussions with the local planning officer continued employment use will be supported but there will be restrictions against alternative use.

TERMS

Offers are invited for th elong leasehold interest with vacant possession. Offers should specify the following:

The identity of the purchaser

Any conditions attached to the offer such as planning permissions and provision of finance

Level and timing of purchase price

Proposed redevelopment details on the site

PURCHASER NOTE

The vendor does not undertake to accept the highest or any offer received and will have absolute discretion in this regard.

Regulated by RICS