Collingwood Street, Newcastle Upon Tyne

LOCATION

The building occupies a prominent position on Collingwood Street, adjacent to Newcastle Cathedral and the Castle Keep. It is situated within Newcastle's office and commercial core, along the prime leisure pitch, often referred to as ‘The Diamond Strip’.

The property benefits from exceptional transport connectivity, being within a two-minute walk of Newcastle Central Station, providing access to Metro and Mainline rail services. Newcastle International Airport is also conveniently located just 7 miles northwest, served by the Metro (24min) and within a 15min drive time, offering daily flights to major domestic and European destinations.

The immediate vicinity boasts a diverse mix of notable retailers and leisure occupiers, including Manhatta, Subway, and Revolution de Cuba, alongside national and regional businesses. Nearby office buildings include St Nicholas Building (Frank Recruitment Group, Sir Robbert McAlpine, Nathaniel Lichfield) and 1 Cathedral Square (DWP) as well as several notable office building on nearby Grey Street. This concentration of established businesses and prominent landmarks contributes to the property's desirability and accessibility within Newcastle's thriving city centre. The location also benefits from high pedestrian traffic, making it suitable for a number of alternative business activities.

Newcastle City Centre is undergoing a significant transformation, notably with the Pilgrim Quarter regeneration project, anchored by the new 462,000 sqft regional HMRC HQ, adding to the city centres appeal. Located on Pilgrim Street at its junction with Northumberland Street and Blackett Street, to the scheme will create a vibrant new area for business, leisure, and community and add significant footfall to the city centre. The Pilgrim Quarter spans three blocks along East Pilgrim Street, strategically positioned as a gateway between prime retail areas and the broader East Pilgrim Street regeneration zone.

Key developments include:

HM Revenue and Customs (HMRC) Hub: A large, modern office complex of 462,000 sqft set to become HMRC's regional centre, accommodating approximately 9,000 staff. It is expected to open in 2027 on a long-term lease.

Pilgrim Place: This includes two high-quality office buildings. Pilgrim Place 1 (173,245 sq ft) has been pre-let to the Department for Work and Pensions (DWP) as a Service and Support Centre, also expected to open in 2027. The adjacent Pilgrim Place 2 will add a further speculative high-quality office building of 90,000 sq ft, complemented by a new public square and due for completion in H1 2027 Newcastle also benefits from a substantial student population. The University of Newcastle, a Russell Group member, attracts approximately 18,000 students from over 100 countries. Northumbria University, with its city centre campus, welcomes around 33,000 students from over 125 nations.

Both universities have recently expanded their campuses, further enriching the city's academic landscape. Ongoing major developments across Newcastle city centre, coupled with its large and growing student population, are driving sustained demand for high quality residential accommodation catering to both students and young professionals. Subject to planning approval, alternative uses such as residential and student accommodation may also be a consideration by developers.

DESCRIPTION

5–7 Collingwood Street is an attractive mid-terrace Grade II listed property of stone façade and brick construction beneath a pitched slate roof, arranged over basement, ground and four upper floors. The basement and ground floors are part let to Quayside News, a long-established convenience and news store. The upper floors are arranged as self-contained offices, accessed via two dedicated entrance doors from Collingwood Street.

The building offers excellent value-add potential, including refurbishment for higher-quality office space, serviced workspace, boutique hotel, or conversion to residential (subject to planning and listed building consent).

ACCOMODATION

The accommodation is arranged over basement, ground and three upper floors. Part of the basement and ground floor are occupied as a newsagents, trading as Quayside News. The remainder of the building is currently vacant and previously occupied as an office. Generally the building is largely compartmentalised and the ground floor accommodation provides an opportunity to create a second retail unit.

TENANCY INFORMATION

Part ground floor & basement 5a Collingwood Street is let to Quayside News at £20,000 per annum on a 10 year lease from 3rd March 2025.

TENURE

The property is held freehold with title number: TY52570

VAT

We understand the property is elected to tax (TBC).

ENERGY PERFORMANCE CERTIFICATE

TBC