A North East NHS trust has bought a landmark building in Newcastle.
The 99,899 sq ft Regent Point office building at the Regent Centre in Gosforth has been sold to Newcastle upon Tyne Hospitals NHS Trust, represented by GVA, for an disclosed sum.
Gavin Black & Partners sold the high profile building, which has four open plan floors of some 25,000 sq ft each and 184 car parking spaces, said it represents the largest sale in the Newcastle area this year.
Chris Pearson, partner at Gavin Black & Partners, said: “Regent Point has a landmark presence at the entrance to Regent Centre. The deal is further evidence of improving sentiment in the market and it brings the supply of Grade A space within greater Newcastle to a critically low level.”
Tony Wordsworth, head of offices at GVA, said: “We are delighted to have secured such a quality office building for the trust.
“This purchase will allow the trust to centralise a number of functions from various hospital sites and free up space for future clinical redevelopment to keep the trust as the leading provider for medical services.
Sir Leonard Fenwick, chief executive of Newcastle Hospitals added: “We have secured a first-class asset that enables us to rationalise infrastructure, improve efficiency and provide a modern working environment for this essential component of our workforce.”