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BOLDON BUSINESS PARK, SUNDERLAND, NE35 9PE
Investment Highlights
o Boldon Business Park is a premier North East business park situated less than 1 mile from the A19
o Boldon is prominently located within close proximity to Sunderland and Newcastle Upon Tyne
City Centres The subject property comprises 12,959.5 sqm (139,495 sqft) of industrial
accommodation arranged a total of 28 units
o Multi-let to 10 tenants with 3 vacant units
o Low effective rent of £653,583 pa reflecting £5.49 psf, market evidence indicates ERV’s of
£5.00-£7.50 psf, subject to size of the unit, suggesting good reversionary potential
o Lack of competing supply with good occupier demand and strong tenant retention at the
subject property
o WAULT of 4.32 years to expiry and 3.00 years to break (excluding rental top-ups)
o The site area is approximately 23 hectares (56.9 acres)
o Asset management opportunities to the vacant units and development potential
o Freehold.
We are instructed to seek offers in excess of £8,755,000 subject to contract and exclusive of VAT. A
purchase at this level would reflect a Net Initial Yield of 7.00% (inclusive of rental top-ups), reversionary
to 9.00% allowing for standard purchaser’s costs.
Proposal
National Investment
Boldon Business Park forms part of The Boldons, a
group of three villages – East Boldon, West Boldon
and Boldon Colliery situated in close proximity to
the northern boundary of the metropolitan area of
Sunderland in the North East of England. The
property is located 6.3 miles north west of
Sunderland, 5.7 miles south west of South Shields
and 8.5 miles south east of Newcastle upon Tyne.
Boldon is situated immediately east of the A19 dual
carriageway which provides direct access to the
national motorway networks and the A184 to
Newcastle upon Tyne. There are currently works
underway to widen the A19 to provide three
carriageways. In addition the A19 provides direct
access to the A1 which serves as the principal
connection between the north east and south of
England.
East Boldon is situated on the Green Line of the
Tyne and Wear Metro. The rapid transit and light rail
system serves Newcastle upon Tyne, Gateshead,
North/South Tyneside and Sunderland. Sunderland
Rail Station is operated by Grand Central Trains
which provide services to London and York with a
typical journey time of 200 minutes and 100 minutes
respectively.
Newcastle upon Tyne International Airport is
located 13.9 miles to the north west providing a
wide range of domestic and international flight
services. Durham Tees Valley Airport is located 34.7
miles to the south.
Location
National Investment
The property is prominently situated along the
western side of the B1298, an interlinking road
connecting to the A184 to the south and A19 to the
north. The A184 travels 5.7 miles to the west towards
Newcastle city centre and 3.9 miles to the east
where it intersects with the A1018, which provides
direct access to Sunderland city centre. The A19,
which can be accessed c. 0.8 miles to the north
and south, a major trunk road connecting York to
Newcastle Upon Tyne via Boldon.
Boldon Business Park is located within an
established commercial location, lying adjacent to
a large industrial site and within proximity to Boldon
Retail Park. The industrial site is tenanted by a mix of
local and national occupiers including Cooper Car
Clinic, Northumbria Optical Coatings and Finning
UK. Boldon Retail Park, located 0.5 miles to the east,
is anchored by Cineworld, Nando’s, McDonalds,
Starbucks and an Asda Superstore.
Boldon Colliery, a dense residential area lies along
the northern boundary of the site. East Boldon
Station is located 2.4 miles to the east of the
property, via the A184.
Situation
National Investment
Description
The subject property comprises part of an Industrial Estate consisting of a mixture of multi-terraced light
industrial buildings sub-divided into five individual units, constructed in 2006 and known as Boldon Court, with
a further eight further standalone industrial warehouse units situated within the Boldon Business Park, all with
associated car parking, service yards and areas of soft landscaping around the site perimeter.
Tenancies & Accommodation
The property is let to 10 individual tenants in accordance with the attached tenancy schedule generating
an effective rent of £653,583 per annum, equating to a low overall passing rent of £5.49 psf with a Weighted
Average Unexpired Lease Term (WAULT) of 4.32 years to expiry, 3.00 years to breaks. There are three vacant
units totalling 20,220 sq ft (1,878.50 sq m), accounting for 17% of the total Estimated Rental Value.
The total freehold site area extends to 23 hectares (56.9 acres).
Please refer to the schedule of accommodation and tenancies overleaf, for further information.
Site Plan
Accommodation & Tenancy Schedule
Demise TenantArea
(sq m) Area
(sq ft) LeaseStart
LeaseExpiry
BreakOption
RentReview
WAULT(Expiry)
WAULT(Break)
EffectiveRent
(£ p.a.)
EffectiveRent
(£ psf)Comments
Unit 2 Vacant 511.2 5,502 1.00 1.00 £41,300 £7.50Marketed by Avison Young. Unit subject to 12 month rent, rates and service charge guarantee.
Unit 4 Universal Systems Solutions (Security) Limited 308.2 3,317 16/04/2015 15/04/2020 0.54 0.54 £26,540 £8.00
Unit 5 Advanced Workshops Ltd. 310.4 3,341 01/08/2014 31/07/2024 31/07/2019 01/08/2019 4.84 4.84 £22,000 £6.58
Unit 6 Vacant 383.5 4,128 1.00 1.00 £31,000 £7.50Marketed by Avison Young. Unit subject to 12 month rent, rates and service charge guarantee.
Unit 9 Analytix Limited 384.6 4,140 24/02/2011 23/02/2021 24/02/2016 1.40 1.40 £31,095 £7.51
Unit 10 Vacant 983.8 10,590 Marketed by Knight Frank
Unit 11A Parts Alliance Group Limited 520.0 5,597 21/08/2018 20/08/2028 28/09/2024 20/08/2023 8.90 5.00 £33,600 £6.00
Unit 11B Beck & Pollitzer Engineering Limited 563.4 6,064 01/09/2016 31/08/2021 1.92 1.92 £33,948 £5.60 2019 break option not exercised.
Unit 12 Royal National Lifeboat Institution 524.5 5,646 12/08/2017 11/08/2023 12/08/2020 12/08/2020 3.87 0.87 £35,625 £6.31
Unit 13 Selecta U.K. Limited 858.1 9,236 17/04/2012 16/04/2022 2.55 2.55 £50,000 £5.41
Unit 14 Balfour Beatty Group Limited 1,244.3 13,394 10/01/2016 09/07/203109/01/202609/01/2029
10/01/2021 11.78 6.28 £70,000 £5.23
Unit 15 FM Coatings Limited 1,634.9 17,598 08/05/2013 07/05/2023 08/05/2023 3.60 3.60 £97,875 £4.83
Unit 16 Nippon Express (UK) Limited 4,732.7 50,942 28/04/2014 27/04/2019 £180,000 £3.53 Holding Over and discussions have commenced to renew the lease
Unit 1 HLA Directors Pension Scheme 30/09/2010 29/09/2135 116.13 116.13
Unit 3Joseph & Joanne Dorian, Kevin Thompson and Investacc Pension Trustees
07/08/2009 06/08/2134 114.98 114.98 £600
Unit 4 Sunderland Hotels Limited 20/08/1990 19/08/2115 96.00 96.00
Unit 5 Council of the Borough of South Tyneside 17/04/1989 16/04/2114 94.66 94.66
Unit 7 James Hay Pension Trustees Limited 24/10/2013 23/10/2138 119.20 119.20
Unit 8 Taylormade North East Limited 31/10/2013 30/10/2138 119.22 119.22
Unit 18 Post Office Counters Ltd. 29/11/1995 28/11/2120 101.28 101.28
Unit 21 Cleveland Cable Cmpany (Holdings) Limited 16/03/2001 15/03/2126 106.58 106.58
Unit 22 Trustees of the NASUWT 13/09/2002 12/09/2127 108.08 108.08
Unit 23 Sepco International Limited 31/07/2003 30/07/2128 108.96 108.96
Unit 24 – Phase 1 SIPP Deal Trustees Limited and Andrew Loughran Preston 27/04/2007 26/04/2132 112.70 112.70
Unit 24 – Phase 2 Andrew Lughran Preston 24/04/2007 26/04/2132 112.70 112.70
Unit 24 – Phase 3 24/04/2007 26/04/2132 112.70 112.70
Unit 25 The Council of the Borough of South Tyneside 22/04/2003 21/04/2178 158.72 158.72
Sub-Station Northern Electric Plc 01/09/1991 31/08/2041 21.99 21.99
Sub-Station Northern Powergrid (North East) Limited 23/02/2007 22/02/2067 47.48 47.48
Sub-Station Northern Electric Plc 16/11/2000 13/11/2175 156.28 156.28
Sub-Station Northern Powergrid Holdings Company Limited 01/07/1989 30/06/2039 19.82 19.82
TOTAL 12,959.5 139,495 4.32 3.00 £653,583 £5.50
National Investment
Tenure Freehold. 14 demised areas are sold off on Long Leasehold, accounting for 39% of the total site area.
EPC
Please refer to the Allsop Marketing Data Room for supporting documentation.
VAT
We understand the property has been elected for VAT. It is anticipated that the sale will be treated as a
Transfer of Going Concern (TOGC).
Allsop Marketing Data Room
For access to the Allsop Marketing Data Room, please refer to the below link:
https://datarooms.allsop.co.uk/register/boldonbusinesspark
Proposal
We are instructed to seek offers in excess of £8,755,000 subject to contract and exclusive of VAT. A
purchase at this level would reflect a Net Initial Yield of 7.00% (inclusive of rental top-ups), reversionary to
9.00% allowing for standard purchaser’s costs.
Co
nta
ct
Jeremy Hodgson
Partner
+44 (0)20 7543 6709
Tom Dales
Associate
+44 (0)20 7543 6866
Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a)these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as tothe property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any ofits members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property.The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained andexpressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospectivepurchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect theproperty and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (andwhere appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries.Allsop is the trading name of Allsop LLP.
Andrew Wise
Surveyor
+44 (0)20 7543 6731