Newcastle property group acquires 25,700 sq ft Grey Street building

Property firm Adderstone Group has acquired a listed Georgian building in Newcastle city centre.

Gainsborough House, located on Grey Street, comprises more than 25,700 sq ft of office and leisure space.

The site is already home to a mix of commercial and leisure operators, including recruiter Manpower and tech company Condeco Software.

According to Newcastle-based Adderstone, artisan pizza business Pizza Punks will move into the ground floor unit previously occupied by French restaurant chain Café Rouge in September.

The venue will be Pizza Punks’ first in the city, expanding a portfolio that includes restaurants across Glasgow and Belfast.

Adderstone Group chief exec Ian Baggett said: “Gainsborough House is one of the most prestigious office buildings in the city and has benefitted from significant investment in recent months.”

Gainsborough House currently has 2,950 sq ft of office space under offer and two suites – one of 4,727 sq ft and another of 1,950 sq ft – available to let immediately.

The deal follows Adderstone’s recent acquisition of The Rivergreen Centre, Atom Bank HQ in Durham and 7B on Cobalt Business Park.