Forge advise on Natwest in Newcastle

Forge are pleased to have acted on behalf of a private investor in the acquisition of 16–20 Northumberland Street, Newcastle.

This substantial four-storey freehold property occupies a prime position on the city’s main pedestrianised retail thoroughfare, directly opposite Fenwick.

The asset is let to NatWest on a lease expiring in December 2027, at a passing rent of £545,720 per annum.

Joe Baio commented:

“We’re pleased to have advised the purchaser in what was a competitive bidding process, which included owner occupier interest. Forge is exceptionally active in Newcastle at the moment, with our investment, leasing and lease advisory teams all currently engaged in multiple live deals – particularly along the prime stretch of Northumberland street, where this property is located. Many thanks to JM+Co for their assistance, and to KLM, who acted on behalf of the vendor.”

For further information, please contact Joe Baio or Jonathan Mills.