A 21,500 sq ft industrial unit at Turbine Business Park in Washington, Sunderland, has been put up for sale with a price tag in excess of £1.735m. The sale price would reflect a net initial yield of 7.00%.
The freehold property, which was built in 2014 and has 46 car parking spaces, is let to Hyperdrive Innovation on a 10-year term, expiring in April 2029.
Jamie Sim, associate in the capital markets team at Avison Young, which has been appointed to sell the property, said: “Having previously acquired the property for our client, we are delighted to have been retained to advise on the disposal. The modern industrial unit is in an absolutely prime industrial location in the North East and offers potential for reversionary income.”
