In a year of record-setting student accommodation investments in the UK, the north east outperformed other areas of the country for commercial property at least with a year on year increase of 32%.
Recent figures have revealed that last year the region received over £1 billion of investment in commercial property. The region outperformed the UK as a whole which averaged an 8% increase.
Much of the investment focused on Newcastle which saw notable sales including Newcastle Shopping Park (£46 million), Sainsbury's in Heaton for £45 million), the Gateshead Hilton Hotel (£36 million) and a large scale sale of Metnor Group purpose built student accommodation for £41 million. But the largest sale in the city was that of Monument Mall which went for £75 million in December.
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