Commercial · For sale

Patrick House, Newcastle upon Tyne – Office Sale & Leaseback Investment

Gosforth Park Avenue, Newcastle upon Tyne, North Tyneside, NE12 8EG

Guide price £1,400,000

Tenure

Freehold

Added

18 Oct 2026

About this property

New 10-year FRI lease to Danieli Holdings Limited with fixed 8% uplifts.

Patrick House comprises a modern, high specification two-storey office building within a popular business park. The building provides approximately 10,000 sq ft (929 sq m) of accommodation, with a generous demised car park. On completion the whole building will be let back to Danieli Holdings Limited, the head office company of Danieli Group, whose registered office is at the property.

Key points: - Modern, high specification two-storey office with generous demised car parking. - Approximately 10,000 sq ft (929 sq m). - Sale and leaseback to Danieli Holdings Limited, part of Danieli Group. - New 10-year FRI lease with no break, inside the 1954 Act. - Fixed 8% rent uplifts at Years 3, 6 and 9, rising to £176,359. - Year 1 rent of £140,000 pa (£14.00 per sq ft). - Offers in excess of £1,400,000, reflecting a net initial yield of 9.43%.

Figures are taken from the vendor's particulars and are subject to contract. Enquire through PropSale for the full information pack.

Features

• Year 1 Rent: £140k pa
• Net Initial Yield: 9.43%
• Tenure: Freehold