We are very pleased to have concluded the sale of this secure office investment let to FRP at The Regent Centre in Gosforth.
The Regent Centre is one of the regions most established office locations situated in Gosforth; an affluent suburb 3 miles north of Newcastle city centre. The Regent Centre is immediately to the west of the B1318 Great North Road which links Newcastle city centre to the A1(M) (2 miles to the north). The Regent Centre also has a Bus and Metro Interchange linking the city centre with Newcastle Airport. Local shops are found on Gosforth High Street and there is an Asda and M&S Simply Food within easy walking distance.
The property comprises a second floor office suite in a four storey building accessed from a common entrance. There is a lift access to all floors and WC facilities are located in the common parts. The accommodation is mainly open plan although there are several partitioned meeting rooms. The space has recently been refurbished and finishes comprise suspended ceiling incorporating recessed LED lights, plastered and painted walls and carpet covered floors. Windows are double glazed throughout.
The property is entirely let to FRP Advisory Trading Ltd (www.frpadvisory.com) for a term of years expiring on 24 December 2031 at a rent of £17,750 per annum with tenant option to break on 24 December 2026. The lease is held on effectively FRI terms by way of a service charge.
FRP Advisory LLP is classified by Experian as having a credit risk score of “Low Risk”. The latest accounts dated 30 April 2019 recorded a total turnover of £54,312,000 as well as pre-tax profits of £24,473,000. FRP Advisory Group PLC was floated on the London Stock Exchange on 6 March 2020. Since becoming a PLC, FRP have generated revenues of £63,200,000 up by more than 16.3% from the previous year. FRP Advisory Trading Limited is a subsidiary of FRP Advisory Group PLC.
For more information please contact Daniel Capobasso on 07968618948 or email firstname.lastname@example.org.
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