Fujifilm, Cannon Street, Middlesborough TS1 5RY
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£1,400,000
May 2021
NorthCap has successfully sold an industrial unit in Middlesbrough on behalf of the Mandale Group.
The property comprises a 21,250 sq ft detached industrial building with associated yard.
The property benefits from a new occupational lease in favour of Fujifilm Diosynth Biotechnologies UK Limited for a term of ten years with tenant’s break at year 5 (subject to 6 months written notice).
The initial rent is £110,000 per annum, subject to a rent review at year 5 to the higher of market rent or the initial rent multiplied by changes in the retail prices index (uncapped).
The property was sold for £1,535,000 reflecting a net initial yield of 6.75%.
Colliers acted for the purchaser, a private investor.
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