Commercial property specialists, Naylors, have successfully completed the sale of Salvus House, the award winning office headquarters in Durham.
The 32,561 sq.ft office located on a 1.9 acre site at Aykley Heads Business Park has been purchased by Durham County Council for £3 million.
Business Durham, the economic development company for County Durham, which is funded by the county council, is now remodelling the building as the Durham City Incubator to accommodate growing businesses.
Salvus House was constructed in 2005 for Sunderland Marine Insurance and has won multiple awards including the RICS Renaissance Award, The Journal Landmark Award and a Construction Excellence Award.
Naylors’ office agency team was appointed in Spring 2015 to market Salvus House following Sunderland Marine Insurance’s merger with The North of England P&I Association (North), which created the North Group and resulted in the firm’s relocation to offices on Newcastle’s quayside.
The building will now offer suites of 3,000 to 9,000 sq.ft for businesses with between 30 and 90 staff, together with space for new businesses and collaborative working areas for individuals requiring flexible workspace
Simon Goon, managing director of Business Durham said: ‘We are delighted to have acquired such a significant and quality office building that will bring new investment to Durham. The purchase of Salvus House will not only create and safeguard jobs but will see the council working with Business Durham to support the next generation of County Durham’s businesses.”
Naylors’ head of office agency, Simon Taylor added: “Salvus House is an outstanding building and will make a fantastic home for new and growing businesses. As a result of our marketing strategy we identified a number of interested parties who were all enamoured by the quality of the building and its setting. This has been a great instruction and we are pleased to have secured a positive outcome for all parties”.
Gavin Black & Partners were appointed as joint agent alongside Naylors in April 2016.