A national property firm has placed a £5m investment into purchasing and creating new and modern office accommodation in Newcastle City Centre.
SONA Estates purchased Hadrian House, which is set to be refurbished and rebranded as Hadrian Newcastle.
Omar Parbani, director of the firm, said: “Newcastle is an exciting and attractive place to invest. It is home to some outstanding businesses and in particular is a hub for start-up and SME organisations. Its business community is impressive, and we felt this would be an excellent opportunity to add to our portfolio in the region and offer something different for the city centre.
“We have been working tirelessly with experts in a range of fields to provide a creative offering which will service businesses and provide a space which they are proud to occupy. We look forward to hosting a range of showcase events and opening later this year.
“In addition, we have been very conscious of the economic climate, and subsequently pricing of the space will be at £12 per sq ft, in order to help local businesses reduce their overheads at this challenging time.”
SONA Estates is working alongside Bradley Hall Chartered Surveyors and Estate Agents in bringing the space to market. Director Richard Rafique said: “The Hadrian Newcastle project will create fresh, modern and exciting accommodation for our local businesses. There is an abundance of opportunity in our region’s capital and we look forward to playing a part in progressing the refurbishment of a space which has so much potential.
“It’s not business as usual at the moment, but the North East business community has a resilience like no other. We are seeing many businesses adapt and continue despite the current climate. Planning, strategy and government support is helping maintain economic activity and the continuation of transactions in the property market.” For further information please contact Richard Rafique at Richard.firstname.lastname@example.org or call 0191 232 8080.