NEW YORK WAY
NORTH TYNESIDE
Industrial Investment Disposal
Industrial Investment Disposal
October 2012
Following the re negotiation of the leases of units 3 and 4 New York Way Lexicon has concluded a sale of unit 3. The property was leased for a term of 10 years to CMR Ltd at a rental of £61,378 pa and achieved a price of £695,000 reflecting a net initial yield of 8.35%. The sale was undertaken quietly off market at the specific instructions of our client. The purchaser’s offer was accepted following due diligence on its ability to conclude the transaction including availability of funds and reputation in the market.