Historic Newcastle building refurbished to create office space

A grade II listed building on Newcastle’s historic Grey Street is set to be refurbished to provide over 15,000 sq ft of prime office space.

Gainsborough House, which now houses coffee chain Café Rouge in its lower stories on a 15-year lease, is asset managed by Cushman & Wakefield Investors.

The five storey, mixed use, building was acquired in 2008 and substantial investment since has lead to refurbishements.

In 2012 both the 2nd and 3rd floors underwent a comprehensive refurbishment which resulted in a letting to recruitment specialists Manpower UK, who signed up to a 10 year lease on the 2nd floor.

Cushman and Wakefield are now investing in the refurbishment of the 1st and 4th floors following the vacation of tenant Irwin Mitchell Solicitors, who formerly occupied both floors.

Simon Taylor, head of Office Agency at Naylors commented: “The lettings that have already been secured at Gainsborough House demonstrate the continued attractiveness of Grey Street as one of Newcastle’s most prestigious business addresses.

“The building offers three vacant floors of newly refurbished Grade A office accommodation with good natural light and excellent flexibility. The office suites range in size from 2,096sqft to 6,046sqft and there is the added benefit of on site car parking.’

Nicholas Dufeu, investment manager at Cushman & Wakefield added: “We have invested in the space to make the property stand out from the competition as the city centre office market in Newcastle is very competitive.

“There is a growing trend for office refurbishments in central locations and we recognised the need to upgrade the office space in order to secure new tenants.’

Naylors Chartered Surveyors and GVA are joint letting agents for Gainsborough House.

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