• Fri. Apr 12th, 2024

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Refurbishment costs for new Newcastle hotel to be part-funded

Details have been revealed about funding support to refurbish the spectacular Grade II listed Eldon Chambers on Newcastle’s Quayside.

Chartered surveyor and property agent Bradley Hall has announced that the renovation of the four-storey Eldon Chambers will be part funded by the landlord.

Planning permission was recently secured to convert the building into a new boutique hotel, with bar and restaurant, giving fresh life to a four storey building which has only ever provided office space since its construction more than 180 years ago.

Bradley Hall is marketing this prime accommodation for lease, for either leisure or office use. Offers are invited in the region of £195,000 per annum.

Neil Hart, managing director at Bradley Hall, said: “Eldon Chambers is a fabulous opportunity for a leisure operator. This is a beautiful building, with great character, that will make a perfect boutique hotel in a great city location.

“Our client, the landlord, has confirmed they will part fund the fit out, making this an opportunity not to miss for investors. The level of funding support will be determined and agreed once any refurbishment costs and plans are fully itemised.”

Planning permission has been granted for discerning investors to transform this traditional building into a boutique hotel including a restaurant and bar, with rooms boasting views over the River Tyne. Plans were drawn up by Newcastle interior design firm Collective Design.

The building, which was constructed in 1833, has been used as office space for the past century, and was most recently occupied by law firm Blackett Hart and Pratt LLP.

For more information please call the Bradley Hall Hood Street office on 0191 232 8080.