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Johnson Tucker LLP sells Old Brewery Court, Sandyford, Newcastle, NE2 1XG

Johnson Tucker LLP were instructed to sell this multi let office investment in Sandyford, which is a popular residential suburb of Newcastle located east of the city centre between Heaton and Jesmond and is largely populated by young professionals, students and families.
The property comprised approximately 5,900 sq ft over two floors with additional basement storage and with benefit of 17 car parking spaces to the rear of the building.
The property was fully let to 4 office occupiers including Kumon (education company), Newcross Healthcare Solutions Limited, Thornton Firkin (quantity surveyors) and a local physiotherapist with total rent roll of £36,315 per annum.
The property was sold to in Q1 2016 for £480,000 reflecting a net initial yield of 7.22% assuming purchasers costs of 4.80%.
For further information please contact Daniel Capobasso on 0191 269 7897 or danielc@johnsontucker.co.uk.