6 Keel Row, The Watermark, Gateshead, NE11 9SZ

Location

Unit 6 Keel Row is located within The Watermark, one of Gateshead's premier business and commercial parks. Situated just off the A1(M) and adjacent to the Metrocentre, the site benefits from excellent road connectivity and easy access to Newcastle city centre, Gateshead town centre, and the wider North East region.

The Watermark is a well-established commercial hub, home to a variety of national and regional businesses, offering a professional and attractive working environment. Many benefits to the property include ample on-site parking, nearby retail amenities, and excellent public transport links.

The Watermark is a prominent business park with neighbouring occupiers including, IBA Architects, Apex Radio Systems, Tru Gym, Café Meo's.

Description

The property is of brick construction with partial decorative timber cladding at first floor and side eleveation. The property is a two-storey office building enjoying excellent natural light and direct views acorss the River Tyne. The property benefits from 7 demised car parking spaces to the front.

The specification includes, gas central heating, double glazed windows and LED lighting throughout.

The ground floor has a waiting area and lobby at the entrance which leads to a meeting room and office to the rear with a small storage cupboard under the stairs and LED lighting recessed throughout.

The first floor is a modern open plan office space, with a bay window looking over the river and the feature of timber trusses.

Tenure Comments

Freehold. Seeking offers in excess of £250,000 exclusive of VAT showing a net initial yield of 7.8% after purchaser costs.

Unit 6 Keel Row is let to RTR GMBH & Co. KG (RTR Group). They have been in occupation since August 2012 and recently renewed the lease for a further 5 years, with expiry now 2nd August 2030. RTR are paying a passing rent of £20,000 per annum without rent review.

RTR Group have operated for 55 years initially being set up in Germany and now operating across Europe and Australasia. They are a specialist in material supply and servicing for renewable energy.