'Rare gem' listed city site secures new owner

A “rare gem” city building has a new owner.

Newcastle’s 26 Sandhill has been bought by a local property investor.

The four-storey, listed sandstone structure, which dates back to the 1800s, includes a cinema, gallery, Thai restaurant and apartment.

The sale was supported by property consultancy GFW – with senior associate Kristian Sorenson working with the property’s former owner – and sees the Quayside-based building change hands after more than 50 years.

Gary Robinson, partner, said: “It was an honour to play a part in securing the future of one of Newcastle’s heritage properties.

“The gallery alone offers an impressive archive with photographs from the Second World War and film reels of shipyards and mines. 

“It’s these kinds of projects that remind us how deeply property connects to people, places and history. 

“Careful support was key in helping the owner decide whether to retain 26 Sandhill as a family legacy or pass it on to someone new.”

Bosses say the deal adds another significant property transaction to GFW’s books, with the firm keen to expand its team over coming years to match demand.

Richard Garland, GFW managing partner, added: “We’re seeing significant movement in the region; Newcastle’s property market is thriving, with a rise in both domestic and international interest.

“Our goal over the next three years is to build on that momentum.

“Our team will continue to grow in step with the expanding market, ensuring we remain at the forefront of regional development.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →