February 16, 2017 @ 11:49 by Alison Cowie
The Newcastle-based property investment company has acquired Noble Street Industrial Estate, which is located off Scotswood Road to the west of Newcastle City Centre.
The estate comprises seventeen small industrial units measuring a total of 35,800 sq.ft with the majority of the units currently operating as trade counters. The existing tenant line-up includes Lloyd Worrall, UK Electric, Tyne Electro Diesel and Vodafone.
Naylors is marketing the two vacant units on the estate, which together offer over 4,000 sq.ft.
Sally Birks, industrial agency surveyor at Naylors said: “We are very pleased to have been appointed by Hanro on its Noble Street acquisition. We have several marketing initiatives in mind for the estate including a new brand, which will help raise the scheme’s profile and public awareness of the vacant units. We are experiencing strong demand for industrial accommodation of this nature and we look forward to working with Hanro to help them optimise the value of this investment.”
Erin Forrest, property asset manager at Hanro said: ‘It was the location and tenant mix at Noble Street which initially attracted us and we see this as a long-term hold for the company. The asking rents for the vacant units equate to £6.25 per sq.ft and we are confident that Naylors will help us achieve some strong lettings in 2017. As a firm we are actively looking for further investments in the region as we have real confidence in the economic outlook.”