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
This is a unique opportunity to acquire valuable intellectual property assets from a well-established wholesaler with many years of experience in the discount food and non-food sector in the Midlands.
This is an opportunity to acquire a long-established specialist bakery business, supplying major UK supermarkets and boasting a fully equipped production facility with a skilled workforce.
Discover the rare chance to acquire a specialist UK supplier of marine engines and generators, noted for their leadership in the used marine engine market and hard-to-find parts.
17
|
Sep
|
Construction materials firm acquires civil engineering contractor | BUSINESS SALE
Fox Brothers Holdings, a private equity-backed construction ...
17
|
Sep
|
Assets and IP of non-HFSS bakery brand set to be sold in pre-pack deal | ADMINISTRATION
Urban Legend, a healthier sweet bakery brand, is poised to e...
17
|
Sep
|
Regional care home operator expands with double acquisition | BUSINESS SALE
Regional care home operator Maven Healthcare has expanded wi...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.