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A Historical Building in Newcastle Will be Turned Into Hotel

It is reported that one of the landmark buildings of Newcastle (England), the Co-op, will be turned into a hotel. The sale of the building for £12m is already agreed. However, it is not yet finalized as the application may be approved by the council.

The building in Newgate Street will be turned into a 230-key accommodation. The renovation works will start as soon the conversion plan is approved. The estimated date of the beginning is this autumn.

This building was previously used as a department store, but it was closed 4 years ago. Only the ground floor was in use since that time. The new hotel in Newcastle will have 230 guestrooms, a restaurant, a gym, and some retail space on the ground floor. The managing organization for this property is also yet unknown. It is only revealed that a pre-let agreement has been already concluded with an operator, which name is not disclosed.

The former Co-op department store’s building was finished in 1932. This is a four-storey house with art deco design and the total square of 64,000 ft. The third floor of the building is the location of the so called Rainbow Rooms – a large suite that consists of four rooms. Previously this suite has been used as a place for conducting ballrooms and weddings.

After quite a long period of recession Newcastle’s hotel market is back on track with 4 hotels under construction at the moment. More projects are expected to start within next 18 months.

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