British Steel, South Works, Whessoe Road, Darlington DL3 0RG

Darlington, DL3 0RG

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British Steel, South Works, Whessoe Road, Darlington DL3 0RG
Price £2,540,000
Rent (pa) £270,000
Yield 10%

Investment Summary

  • Industrial investment with development potential
  • 156,319 sq ft on a large site of 7.48 acres
  • Strong location to the north of the town close to the established Faverdale Industrial Estate
  • Potential for alternative uses (STP) including residential
  • Let to British Streel Limited (owned by Jingye Group)
  • Recently agreed reversionary lease extending expiry to 22nd February 2025 (3.2 years unexpired)
  • Current rent of just £270,000 per annum (£1.72 psf)
  • Rent deposit of £160,000 to be held by the landlord
  • Excluded from L&T 1954 Act
  • The tenant operates part of their Special Profiles business from the property, intrinsically linked to the Skinningrove Steel Works
  • The site has been in continual occupation since 1852
  • Freehold
  • Offers in excess of £2,540,000 (STC)
  • 10% Net Initial Yield
  • Capital value of £16 psf
  • Low site value of just £340,000 per acre
Town Darlington
Postcode DL3 0RG
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