For Sale, Warehouse 

Hempstalls Lane, Newcastle

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Features

  • Substantial three storey warehouse and offices (16,844 ft²)
  • Offers in region of: £625,000
  • Additional detached warehouse and offices (4,919 ft²)
  • Fixed price: £150,000 (not for sale individually)
  • Entire property (both buildings)
  • £775,000
  • Total site area (approx.): 0.72 Acres
  • Perimeter enjoys palisade fencing
  • Suitable for a variety of uses (STP)
  • Freehold

Address

Johnsons Photopia Hempstalls LaneNewcastleStaffordshireST5 0SW
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Property Details

•Main Building: £625,000
•Detached Warehouse: £150,000
•Entire Site (both buildings): £775,000
•Commercial property, with potential for conversion (STP)
•Vacant: Opportunity to Add Value and develop the site

The property comprises a former converted Victorian Mill with two additional wings, added in 1980s, providing over 16,000 ft² of warehouse and office accommodation.

Set across three storeys, the property has approx. 6,500 ft² of warehouse to the lower ground floor, with two roller shutter doors. Half of the warehouse has over 5m eaves height. At ground and first floor levels are offices and warehouse spaces, configured to the former occupiers’ requirements.

The property, suitable for a variety of uses including warehousing and offices, could easily be split into smaller spaces for investment or owner occupier purposes. The property could potentially be converted into residential accommodation, subject to planning. It has windows on all elevations and two staircases servicing all floors and a good lift, making it suitable for conversion.

The freehold available sits on a good-sized plot, bordered by palisade fencing, with front and rear access to the site, and ample on-site parking facilities. The property requires modernisation throughout.

There is an additional detached warehouse building available by separate negotiation along with the purchase of the larger unit. It is single storey warehousing with two storey offices. The additional warehouse section extends to approximately 2,500 ft² and is currently tenanted with a passing rent of £12,000pa.

Accommodation

Three storey office / warehouse block: 16,844 ft² (1,564 m²)
Detached Warehouse: 4,919 ft² (456 m²)
Total GIA: 21,763 ft² (2,021 m²)
Measurements taken from VOA
Potential additional floor: Approx. 2,000 ft² (subject to planning)

Services

We understand the property to have mains gas, electricity, water and drainage.

Tenure

Freehold

INVESTMENT ANALYSIS

Owner Occupier

The property is suitable for owner occupier use who require office and warehouse space. With a course of modernisation, the premises could make an excellent head office or region facility.

Commercial Investment Use

The property offers great investment potential. Given the current office to warehouse split (roughly 60%/40%), the premises could be split into more manageable spaces. The warehouse (approx. 6,500 ft²) could easily be split into two or rented out as one unit. The ground and first floor offices could be split into smaller spaces (500 ft² to 2,000 ft²) and let out individually. An additional floor could be reinstated at ground floor level above part of the warehouse unit providing another 2,000 sq ft of space (previously taken out to increase eaves height). Alternatively, a serviced office could be developed (STP).

There is an additional detached warehouse available for £150,000, but only available in connection with the sale of the primary building. It is currently tenanted with a passing rent of £12,000 per annum.

Residential Development

The property is suitable for residential development (subject to planning). Due to the configuration of the building, the large volume of windows on each floor, all internal walls being stud-partitions, two separate staircases at either end of the property, the car parking facilities currently available, and the area is predominantly residential we think it would be well suited to a residential development.

Business Rates

The VOA website advises the properties have rateable values as of 2019 List of:
Main Building: £59,000
Detached Warehouse: £11,750

Asking Price

Main Building: £625,000
Detached Warehouse: £150,000
Entire Site (both buildings): £775,000

VAT

Purchasers should make their own enquiries

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