Developers acquire 1930s office block for £8m conversion
PROPERTY developers S Harrison have acquired a 1930s office block in Newcastle city centre for conversion into student apartments.
The £8m scheme will see the 21,000 sq ft building on Northumberland Road converted, whilst retaining the ground floor retail provision.
Electrical engineers Metropolitan-Vickers were the previous tenants, though the six-storey office building has recently been lacking in an occupant.
York-based S Harrison specialises in student accommodation, retail, hotels and office space.
The company has outline approval to develop a £40m housing and care home scheme in Whitby and has recently appointed contractors to build out a new B&M store at its Richmondshire Walk retail development in North Yorkshire.
York-based S Harrison’s director, David Clancy said: “This is an iconic landmark building in the city. We have an excellent track record for finding new viable uses for older buildings and plan to commit the resources to deliver a new future for Metrovick House.
“We already have interest from investors keen to acquire the student accommodation when it is completed, confirming the continuing demand for quality student provision to serve Newcastle’s two thriving universities.”
The proposed new has been confirmed by the planning authority, and work will start immediately on the redevelopment programme with the studio apartments completed by September 2016.
Newcastle law firm Muckle acted for S Harrison. Vendors Metrovick Property Company Ltd were advised by BNP Paribas in Newcastle and Pinsent Masons in Leeds.
