Delta Capital Property Investment, acting jointly with Greig Cavey Commercial, is pleased to have completed the sale of Units 1-2 Dipwood Road, Rowlands Gill, for £360,000. The price reflects a net initial yield of approximately 10.2% after purchaser’s costs.

The property is a traditional brick building dating from around 1900, with a pitched and hipped slate roof. It provides 4,286 sq ft across two ground floor units and a self-contained first floor. The building sits within a conservation area, next to a Grade II listed war memorial. It is held freehold and is not elected for VAT.

It is fully let to three tenants and produces a total rent of £38,000 per annum. The ground floor is let as an Italian restaurant and a Chinese takeaway, both on leases running to 2031. The first floor is occupied as a gym on a lease recently extended to 2031, with a tenant break option in 2029.

The property occupies a prominent corner position on Dipwood Road, the main street through Rowlands Gill, directly opposite Tesco. It benefits from high footfall and passing traffic, and the surrounding area is densely residential. Rowlands Gill lies on the A694, around 6 miles south west of Gateshead town centre, with good road links to the A1(M) and Consett.

If you are considering selling a commercial property investment in Tyne and Wear 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