Carter Towler has assisted Durham Group Estates Ltd with the purchase of Bede House, Belmont Business Park, close to the A1 at Durham. The Leeds-based chartered surveyors have also been appointed to manage the two storey, 25,000 sq ft office building.
Situated on the edge of Durham city centre, Bede House was purchased off market and will be extensively refurbished before being let.
Commenting on the purchase, Durham Group Estates Chief Executive, Gurpreet Singh Jagpal said: “We are extremely pleased to be adding this sizeable property to our commercial portfolio. It was built in 2001 and is ready for upgrading now. We will be investing a further £500,000 creating contemporary, open plan office spaces with high quality, eco-efficient features such as low energy lighting and air conditioning.
“We have developed an exceptional working relationship with Carter Towler, who already manage all our properties across the North of England, and we know they will help us realise the full potential of this latest investment.”
The refurbishment is underway and due to be completed in September. Bede House will have office suites ranging from 1,000 to 8,500 sq ft and 100 car parking spaces.
Carter Towler Director Matt Faulkes added: “This is a very attractive modern office building – its brick elevations, curved profile metal roofing and aluminium double glazing are really quite impressive. It’s in a great location too, close to key transport links.
“Our property management team will be ensuring that everything runs smoothly once the refurbishment is completed. We’ll be responsible for security and maintenance, ensuring financial compliance, as well as collecting rent and service charges. We are very much looking forward to working with existing tenants and welcoming the first batch of new tenants.”
Belmont is located on Broomside Lane which is close to Junction 62 of the A1(M) via the A690. Newcastle upon Tyne is 15 miles to the north and Sunderland 9 miles to the north east. It is a well-established business park which is currently occupied by Cooper BMW Mini, Pulman Skoda, Premier Inn, Beefeater, Soccerama, Age UK, Howdens, Rexel, Waterston’s, Home Group and the recently completed NHS Durham Diagnostic & Treatment Centre.