KSM Associate’s Kourosh Manoucheri, partner at Gordon Brown Law Firm John Morgan, Richard Rafique and Steve Cowley A Newcastle office building has been purchased in a £1.5m investment as part of a plan to create opportunities for start-ups and small businesses.
More than 17,000 sq ft of offices space at has been purchased by a syndicate of property investors, assisted by KSM Associates.
The current Scotswood House is located at Asma Court, Newcastle Business Park and is set to be rebranded and refurbished as part of the investment.
Once complete, the building will house 160 workers and 100 parking spaces.
“It is vitally important for us to support the region’s start-up businesses by providing flexible office space,” said Kourosh Manoucheri from KSM Associates.
“The North East continues to create many successful entrepreneurs and SMEs which provide outstanding services, products and jobs for local people. The centre will not only create a place for people to work, but also a platform for a lot of businesses to thrive.” The investors were supported by Bradley Hall Chartered Surveyors and Gordon Brown Law Firm in acquiring the building.
“The investors are set to create a fantastic and flexible space which is ideal for the region’s micro businesses, small enterprises and growing organisations,” said Richard Rafique, director at Bradley Hall.