Council Snaps Up Office Building For Residential Development
Unicorn House in North Shields town centre has been sold to North Tyneside Council for an undisclosed sum
A significant transaction concerning North Shields town centre has been completed after we sold Unicorn House to North Tyneside Council for an undisclosed sum.
The newly acquired building is set to be transformed into a housing-led development, thanks to Permitted Development Rights (PDR) we secured prior to sale.
Totalling 20,000 sq ft, the three-storey office building – originally purpose-built for government use almost four decades ago – will be cleared to make way for a regeneration scheme.
This will complement the council’s ongoing work on the £5m development Northumberland Square project, which will see a row of terraced properties on the square’s north side restored to their original use as homes.
Located just off Stephenson Street, approximately eight miles east of Newcastle city centre, Unicorn House also features land for new build expansion, subject to planning.