Successful Off-Market Sale of Prime Newcastle City Investment

Delta Capital Property Investment is pleased to announce the successful completion of the sale for 2-10 Cross Street and 9-10 Charlotte Square in Newcastle upon Tyne. This significant leisure investment and development opportunity was sold for the full asking price of £1,300,000 following a discrete off-market marketing exercise.

The property comprises a collection of interconnecting buildings providing a total of approximately 11,855 square feet of accommodation. Currently, the ground and first floors of the Cross Street premises are let to a restaurant tenant on a fifteen-year lease expiring in 2032. This generates a passing rent of £68,176 per annum, with uncapped reviews linked to the retail price index every three years, with the next review scheduled for April 2026.

The site offers immense development potential within this thriving academic and commercial landscape, situated near major regeneration projects such as Newcastle Helix. The property’s versatility is evidenced by previous planning permission for a forty-four bed hotel, as well as separate design proposals for a fifty-five bed student or residential apartment scheme. Such potential makes the asset an attractive prospect for long-term growth in the heart of the city.

The potential development is underpinned by Newcastle’s standing as a major two-university city with a student population exceeding 50,000. The University of Newcastle, a prestigious Russell Group member, attracts approximately 18,000 students from over 100 countries. Northumbria University, which also maintains a prominent city centre campus, welcomes around 33,000 students from over 125 nations. With both institutions recently expanding their campuses, there is a consistent and high demand for quality accommodation and leisure services in the immediate area.

For further information regarding similar investment opportunities in the city centre, please contact Daniel Capobasso.

Daniel Capobasso MRICS

Managing Director, Delta Capital Property Investment

Mob: 07968 618 948

Email: dc@deltacap.co.uk

Daniel Capobasso is a commercial property investment advisor and Managing Director of Delta Capital Property Investment, specialising in investment transactions and asset management in the North East of England.