Leeds surveyors maximise property investment with purchase of Durham business park
Carter Towler has assisted Durham Group Estates Ltd with the purchase of Durham’s Bede House on Belmont Business Park.
The Leeds-based chartered surveyors have also been appointed to manage the two-storey, 25,000 sq ft office building.
Situated on the edge of Durham’s city centre, Bede House was purchased off market and will be extensively refurbished before being let.
Durham Group Estates’ chief executive, Gurpreet Singh Jagpal, said: “We are extremely pleased to be adding this sizeable property to our commercial portfolio.
“It was built in 2001 and is ready for upgrading now. We will be investing a further £500k creating contemporary, open plan office spaces with high quality, eco-efficient features such as low energy lighting and air conditioning.
“We have developed an exceptional working relationship with Carter Towler, who already manage all our properties across the North of England, and we know they will help us realise the full potential of this latest investment.”
The refurbishment is due for completion next month. Bede House will have office suites ranging from 1,000 to 8,500 sq ft and 100 car parking spaces.
Carter Towler’s director, Matt Faulkes, added: “Our property management team will be ensuring that everything runs smoothly once the refurbishment is completed.
“We’ll be responsible for security and maintenance, ensuring financial compliance, as well as collecting rent and service charges. We are very much looking forward to working with existing tenants and welcoming the first batch of new tenants.”
Belmont is an established business park currently occupied by the likes of Cooper BMW Mini, Pulman Skoda, Premier Inn, Age UK and Beefeater.
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