'Prime' city centre building hits market

A “prime” city centre building set for residential refurbishment has hit the market.

No.2 Cathedral Square, in Newcastle, is up for sale.

Property consultancy Knight Frank has been appointed by owner Monument Real Estate to find a buyer for the 1970s building, which is primed to be converted into 135 serviced apartments.

Officials say the plans will add a three-storey extension to the Bigg Market site – which is already home to businesses including Simply Greek and Revolucion de Cuba – and install new façades.

Ryan Lynn, Knight Frank partner, said: “This is an exciting redevelopment and investment opportunity for the city, which is seeing strong investment throughout. 

“The property lies within the Bigg Market regeneration area, which has seen a multi-million-pound improvement in recent years.

“And with planning approved for a large hotel/serviced apartment scheme in a great location, we are expecting high levels of interest.”

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