WIPL sell prime Newcastle block

Forge has successfully advised Wittington Investments (WIPL) on the sale of 60-62 Northumberland Street, Newcastle.

The property occupies an exceptionally prominent, 100% prime position directly opposite the main entrance to Eldon Square, at the heart of Newcastle’s strongest retail pitch. It provides approximately 26,850 sq ft of well‑configured retail accommodation.

The asset is fully let to Deichmann Shoes and Cotswold Outdoor on two new 10‑year leases, secured at re‑based rental levels with a WAULT of 8.93 years to expiry.

Jonathan Mills commented:

“With Forge having recently completed the new letting to Deichmann Shoes, it was great to help our long-standing client, WIPL, capitalise on this and achieve a successful sales process. The property attracted considerable interest from a range of UK based and overseas investors, which resulted in a competitive bidding process, culminating in a successful sale to a French SCPI.”

For further information on this transaction, or to discuss Forge’s upcoming sales and investment opportunities, please contact Jonathan Mills, Joe Baio or Georgia Welch.