Rare opportunity to purchase a strategic industrial investment extending to 30ha (75 acres) on the North Bank of the River Tyne.
• The site consists of 42,840 sq m (461,128 sq ft) of high quality industrial, warehouse and office accommodation providing a very low site coverage of 14.15%.
• The property is currently used as a manufacturing and assembly yard for jacket foundations for use in offshore wind turbines, a growing alternative energy sector. The site has previously been used for the offshore oil and gas industry. Alternative potential uses could include industrial or commercial storage.
• The site has unique facilities including 1km of waterfront, a 10ha (25 acre) reinforced concrete assembly pad and a yard power capacity of 5000 kva through 10 substations.
• The site is exceptionally well-placed to benefit from developments in the North Sea, within easy reach of key offshore energy locations such as Dogger Bank, Hornsea and other North Sea developments, as well as oil and gas related uses, large scale manufacturing, storage and distribution uses and advanced manufacturing.
• The site is one of a very limited number of yards capable of handling this type and volume of work in the UK, as well as elsewhere in Europe. In particular it is able to meet the larger construction requirements which are needed under new tenders.
• The property is let to Smulders Projects UK Ltd and guaranteed by Smulders Group NV, on a 2 year contracted out lease from January 2017, at a passing rent of £1,500,000 per annum.
• Seeking offers in the region of £15M (Fifteen Million Pounds) subject to contract and exclusive of VAT.