Cathedral Square, Newcastle
Purchase Price: £14.9m, September 2014
Description: Cathedral Square comprises a part three, part five story multi-let office building with ancillary retail and leisure on basement, ground and rooftop. The total asset area is A mixed use office, retail and leisure building in central Newcastle totalling around 110,000 sq. ft.
Asset Management: Significant value-add initiatives concluded including: The re-gear of the Job Centre lease on a new 10-year term. The reconfiguration of part of the building to create a new bar with rooftop terrace that was pre-let to Revolucion De Cuba. Created a high-tech security vault in previously dead basement space that was pre-let upon a long lease. Reconfigured and extended a ground floor retail unit to upsize one of the retail tenants.