Delta Capital Property Investment, acting jointly with McGillivrays Chartered Surveyors, is pleased to have completed the sale of the freehold of Tees Valley College, Sotherby Road, Middlesbrough. The property was sold to the occupying tenant for £675,000, which reflects a net initial yield of 9.62% and a capital value of £51 per sq ft.

The property sits on a 0.892 acre site within the established Skippers Lane Industrial Estate, just off Cargo Fleet Lane and around 2 miles east of Middlesbrough town centre. It comprises two buildings with a total floor area of 13,228 sq ft. The front building is a two-storey office block used as classroom space. The rear building is a detached workshop. Both are of traditional brick construction with pitched tiled roofs, and the yard between them has been converted into a 5-a-side pitch and outdoor leisure space.

The property was let to Keys 7KS Limited, part of the Keys Group, which has occupied the site since 2015 and operates it as Tees Valley College, an independent education provider.

A sale to a sitting tenant can be an excellent outcome for a vendor. The tenant knows the building and is committed to the location, so it is well placed to proceed quickly and with certainty.

If you are considering selling a commercial property investment in Teesside or across the North East, please get in touch for an informal conversation. Investors can join our mailing list to receive new opportunities, including those offered off-market.

Daniel Capobasso MRICS

Managing Director, Delta Capital Property Investment

T: 07968 618948

E: dc@deltacap.co.uk