Units 1 – 12

• A newly-delivered, multi-let industrial estate located at Cannon Park; the absolute prime pitch in Middlesbrough.
• Unrivalled access to the A66 and A19; the two principal trunk routes in the Teesside area.
• Total gross internal area of 18,600 sq. ft. (1,727.94 sq. m.).
• High quality, flexible accommodation split into twelve units with associated landscape and parking.
• Fully let to a robust mix of regional occupiers, with 100% of the income benefitting from uncapped RPI-link reviews.
• WAULT of 9.57 years to expiry (3.90 to break).
• All units benefit from an EPC B rating, providing protection from forthcoming regulatory changes while keeping occupier costs low.
• Virtual freehold by way of a 999 year lease.
• Offers sought IRO £2,760,000, initial yield of 6.54%. Sales of constituent blocks of three, four or five units will also be considered to suit buyer lot size preference, see next page.

Proposal
We are seeking offers in excess of £2,760,000, subject to contract and exclusive of VAT. Sales of constituent units will be considered, for example: Units 1-5: £1,150,000 Units 6-8: £690,000 Units 9-12: £920,000

Development
This investment comprises an estate of twelve multi-let industrial units of traditional brick and block construction, arranged in three parades of five, four and three units respectively. Internally, the units are split over two levels; the ground floor features warehouse/storage accommodation over a concrete slab, accessed via a 3.4m roller shutter to the front elevation. The upper floor provides a high specification multi-purpose accommodation alongside a kitchenette, ideal for an office but adaptable to suit any needs. The external envelope is of facing brickwork construction with a glazed entrance facade and the property is surmounted by a pitched, tiled roof. The units have been designed with occupier affordability in mind; quantum falls below the minimum rates threshold, while LED fittings and electric panel radiators throughout contribute to excellent EPC ratings and low running costs. The property benefits from a ten year insurance-backed build warranty.

Location
Mandale Park TS1 is conveniently located in Middlesbrough at the well-known trading estate, Cannon Park. accessed via Newport Road. Nearby you’ll find major sea port, Teesport, which was granted freeport status in 2021. It’s anticipated to boost the local economy with £1.4bn in additional inward investment and create 18,000 jobs. The development also benefits from excellent road transport links located immediately adjacent to the A66 dual carriageway providing direct access to the A19.

Tenure
The property will be sold on the basis of a new, unfettered 999 year lease at a peppercorn rent without review. The freehold will be made available for purchase at a normal price on completion of the wider development.