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News Release

Leeds

Vertu Motors buys Keelman House, Team Valley, Gateshead


LEEDS, 1 March 2015 – Acting for Helix Property Advisors, and representing the LPA Joint Receivers, Mr S Thomans and Miss S Bullan, the Leeds office of JLL and GVA Newcastle have sold the long leasehold interest in Keelman House, Team Valley in Gateshead for £1.4 million.

Vertu Motors, the sixth largest motor retailer in the UK, has acquired the 23,000 sq ft office building for its UK headquarters. Already based on Team Valley, Vertu Motors will move its teams into Keelman House in the very near future.

Jeff Pearey, lead director at JLL, who negotiated the transaction said: "Keelman House presented an excellent occupational opportunity as it provided adaptable, good quality HQ style office space in a well-established and convenient location just minutes from Newcastle. We received good levels of interest within a short period of beginning to market the building and the sale was concluded swiftly within a matter of weeks."

Vertu Motors was represented by Gavin Black and Partners.