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Commercial Property News
Investment partnership acquires Newcastle commercial property
A commercial property investment partnership has added two listed buildings in Newcastle to its portfolio.
The Matterhorn Palos Partnership - formed by Matterhorn Capital and Palos Investments - has purchased Earl Grey House and Barclays House on Grainger Street and Market Street respectively.
Both the sites are home to tenants such as Barclays, Moben, Costa Coffee and Grant Thornton and partner at Knight Frank in Newcastle Tim Evans, speaking to nebusiness.couk, hailed the £20 million deal.
"All major investors want to have buildings in Newcastle, which is testimony to its success," he remarked, adding: "It is a true European centre. It is vibrant and exciting. Sometimes we undersell ourselves."
The combined size of the two adjacent buildings - which were built in 1837 - is 90,000 sq ft.
Last week, Jones Lang LaSalle predicted that office rents in business property outside London are likely to improve in parallel with the economic recovery.
The Matterhorn Palos Partnership - formed by Matterhorn Capital and Palos Investments - has purchased Earl Grey House and Barclays House on Grainger Street and Market Street respectively.
Both the sites are home to tenants such as Barclays, Moben, Costa Coffee and Grant Thornton and partner at Knight Frank in Newcastle Tim Evans, speaking to nebusiness.couk, hailed the £20 million deal.
"All major investors want to have buildings in Newcastle, which is testimony to its success," he remarked, adding: "It is a true European centre. It is vibrant and exciting. Sometimes we undersell ourselves."
The combined size of the two adjacent buildings - which were built in 1837 - is 90,000 sq ft.
Last week, Jones Lang LaSalle predicted that office rents in business property outside London are likely to improve in parallel with the economic recovery.
Mon, 22nd Feb 2010