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Newcastle Quayside building given new lease of life with renovation from landlord

Quayside premises on the market for new hotel tenants

15/02/2017

A historic building on Newcastle Quayside is being given a new lease of life by its owners as they hunt for new tenants.

Grade II listed Eldon Chambers has historically always provided office accommodation, from its construction more than 180 years ago until the last tenants, Blackett Hart & Pratt LLP, moved out last year.

 

Now, however, the grand four-storey building could also become a landmark boutique hotel or restaurant, after planning approval was granted which would allow it to be converted for leisure use

Before its new use is settled, however, the McArdle family – who also own other commercial property in the city – are partly funding the renovation of the grand building, which started life as a merchant traders’ office in 1833.

Planning permission has been granted for discerning investors to transform the 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.

Chartered surveyor and property agent Bradley Hall is marketing the building on the landlord’s behalf, 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.”

This is the second city centre office building that is being brought back to life by the McArdles, who are also spending £500,000 on 26 Mosely Street.

The building, once home to Ant and Dec’s bar and restaurant The Lodge and, before that, the National Provincial Bank of England, was acquired by HMC Ventures Ltd, which is owned by Helen McArdle and her family.

The firm has appointed Newcastle-based Silverstone Building Consultancy to project manage a major refurbishment of the three upper floors and loft space, which will provide more than 9,000 sq ft of open plan office space.

Last month it emerged that Helen McArdle and her family’s care home venture Helen McArdle Care had been acquired by national operator HC-One in an undisclosed deal.