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Prestigious Durham property acquired

commercial property investment

A 32,000 sq ft office building in Durham has been bought for £3m.

Commercial property specialist Naylors has sold Salvus House to Durham County Council.

The property is located on a 1.9-acre site at Aykley Heads Business Park. Business Durham, the economic development company for County Durham which is funded by the county council, is now remodelling the building as the Durham City Incubator to accommodate growing businesses.

The renovated facility will offer suites of 3,000 to 9,000 sq ft for companies with between 30 and 90 staff, together with space for new businesses and collaborative working areas.

Simon Goon, managing director of Business Durham, said: “We are delighted to have acquired such a significant and quality office building that will bring new investment to Durham.

“The purchase of Salvus House will not only create and safeguard jobs but will see the council working with Business Durham to support the next generation of County Durham’s businesses.”

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Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.

There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Paul

The author Paul