West One, Newcastle-Upon-Tyne
West One comprises 48,000 sq ft of modern, office accommodation, together with 37 flats and associated car parking. Located in the heart of Newcastle City Centre, on the Banks of the River Tyne, the property is let to tenants including Partnerize, Hempsons and National Energy Action. At the time of acquisition, approximately 28% of the space was vacant, whilst the existing occupational leases were nearing expiry.
Following a programme of capital investment, including the subdivision and refurbishment of some 13,000 sq ft of accommodation, the vacant office space has since been let whilst lease renewals have been concluded with the main occupational tenants, thereby securing the income stream of the investment.