A Tyneside office that featured in an Oscar winning film is set for a £3m transformation into modern workspace.
The crescent-shaped St George’s House at the Team Valley in Gateshead was one of the first buildings to be completed at the trading estate in 1937, welcoming King George VI for its official opening. The building became available when former tenant Homes England moved across the river to the Lumen building in Newcastle, paving the way for a £2m sale.
Now commercial property developer UK Land Estates is investing the seven-figure sum into the building, the structure of which matches the curve of the roundabout on the estate’s main Kingsway and Eastern Avenue roads. The firm is aiming to turn the two-storey 23,634sqft office building into leading business space, while retaining the character of the original design.
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David Gibbs, UK Land Estates commercial director, said: “St George’s House is one of the Team Valley’s crown jewels and renovating and updating it is such an interesting journey. We are working with In-Architecture and Simon Grundy to develop exciting plans for the building and it’s exciting to see them come to fruition, as we unearth a wealth of original features and quirky period design elements.
“As owners and operators of Team Valley, we couldn’t miss the opportunity to purchase this building when it came on the market, and it’s no surprise to see so much interest in it. It’s important that the original charm and integrity of the building is being retained, while also creating a modern, accessible space that’s attractive to tenants and flexible enough to meet their requirements.”
St George’s House was officially opened by King George VI in 1937, an event which is recreated in the film The King’s Speech. More than 700 businesses, employing more than 20,000 people are based on Team Valley Trading Estate, which was established in 1936 as a response to soaring unemployment.
Patrick Matheson, partner at Knight Frank, joint-marketing agent for St George’s House, said: “It is so rare for a building, with such character and historic significance, to come on the market. It offers firms the opportunity to create a genuine statement HQ building.
“The flight to quality is the overarching trend in the market post pandemic - the refurbishment of St George’s will provide inspiring workspace to meet this demand.”
Jessica Ross, associate partner at Naylors Gavin Black, which is also marketing the property, said: “Staff recruitment and retention is a real challenge most businesses face. St George’s will provide quality space for collaboration and wellbeing, both key concerns for progressive employers looking to retain and attract staff. Similarly, sustainability is another motivator for occupiers, and again St George’s will offer highly sustainable offices, suitable for modern working life.”
UK Land Estates also acquired four adjoining units of between 1,127 sq ft and 3,734 sq ft as part of the deal, which are also being refurbished to provide modern offices.
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