Thu, 30 Mar 2017 | COMMERCIAL PROPERTY
Gateshead Council has put its historic Old Town Hall - the municipal heart of the town for almost 120 years - up for sale, continuing a trend of local authorities selling off property to raise money.
The grade-II listed Victorian building in Swinburne Street is used to house offices, the council’s main debating chamber, a magistrates’ court complete with cell block, a police station and police house. The council chamber and most council offices relocated to Gateshead's Civic Centre in the 1980s.
The sale also includes a stretch of land and other council-owned Victorian buildings including Swinburne House, which was previously used as a bank, a building society, the borough’s first public library and a post office. In total 4.28 acres are up for sale.
Gateshead Council leader Martin Gannon said: “This is truly an impressive site, containing some of Gateshead’s finest buildings and a major asset, not just to our town centre but to the historic culture of the region.
“The word unique is often overused but not in this instance. This site has huge potential mixing old and new, and we are confident a visionary developer will bring new life to this once bustling and historic area, creating new jobs, visitors and opportunities for local people.”
The site - in an area of Gateshead known as the Old Town Hall Quarter - is close to the bridges of the Tyne and would offer a “wide range” of development opportunities including retail, office, hotel, leisure and residential uses.
Many councils are selling properties as they seek to raise cash to manage their budgets.
Between 2010 and 2015, councils in England and Wales had their main grant cut by 40 per cent, leaving them to find £20 billion of savings.
Examples include Eastbourne Borough Council selling four farms covering 2,900 acres and Brighton Council selling 120 acres of land, some of it a site of special scientific interest.
You can subscribe here
Hand built in their workshop in Oxfordshire and delivered to enthusiasts and collectors all over the world, this is a fantastic and very rare opportunity to take on a truly iconic brand and develop the business to bring out the full potential that br...
RELOCATABLE
Offers a comprehensive employment process to ensure all candidates are qualified and meet the required safety and licence checks. Offers invited.
LEASEHOLD
Provides a range of specialist consultancy through planning, training and exercising, with a focus on crisis management and business resilience and continuity. Offers invited.
LEASEHOLD
|
15
|
|
Jun
|
Equity funding reaches record high for SMEs | BUSINESS NEWS
As investment rises outside of the capital, small businesses...
|
14
|
|
Jun
|
Bedding retailer fall into administration after running into troubles on the high street | ADMINISTRATION
The Yorkshire Linen company has been forced to shut its door...
|
13
|
|
Jun
|
Sipp firm with a total investment value of £130m enters administration | ADMINISTRATION
GPC Sipp Limited, a firm specialising in providing technical...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources