Estate agent Duncan Young has put a historic building in Gosforth up for sale after relocating part of his business.
Until recently the Old Bank at 30 High Street had provided a base for Sanderson Young’s rare! brand, a division created in 2002 to focus on the sale of luxury mansions.
Now, however, the prominent property – the former Midland Bank building – is up for sale with a price tag of £399,500 after the rare! team moved into the agency’s office nearby at 95 High Street, Gosforth.
The former bank is owned by a pension fund acting on behalf of Mr Young and is on the market with the freehold or leasehold available. The building, which has 820sqft feet of space in its front sales office and manager’s office, has a small terrace and parking space.
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It was granted planning permission for a first floor extension which has since lapsed, but could be renewed, the firm said.
Mr Young said: “We bought the freehold 17 years ago and it has provided a fabulous home to our business for many years, although with so many changes in estate agency taking place and the speed of communication now available through social media, fewer clients need to visit our premises.
“The larger building at 95 High Street accommodates a newly refurbished suite of offices for our rare! colleagues and Ashleigh, our manager, with her team are loving their new home.
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“Clients are delighted with the move with many parking bays nearby and a fabulous coffee shop below providing a welcome drink to those who visit us. We look forward to meeting many of our past and current clients in our new boardroom to discuss their property requirements seven days a week.”
The Newcastle estate agency business entered administration last September owing creditors more than £900,000.
The company was bought out of administration by a newly formed company, DG Young Limited, which was set up by Mr Young’s wife, who is its only director. Mr Young continues to run the estate agency firm on a day-to-day basis.
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