The Investment Team have acquired the freehold of 55-57 Northumberland Street in Newcastle upon Tyne on behalf of clients.
The property occupies a 100% prime retailing pitch on Northumberland Street, between entrances to Eldon Square and Monument Mall. The holding comprises circa 7,000 sq ft, is arranged over ground, basement and two upper floors and is secured to Sportswift Limited until June 2025.
The city ranks third of all UK centres, in terms of ‘Primary Catchment Population’ and ‘Per Capita In Store Comparison Retail Expenditure’.
The property was purchased for £4.885m.
For further information please contact Ed Smith.