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Sunday, June 26, 2022

Iconic Bruce Building set for transformation

The historic Bruce Building in Newcastle city centre is to be transformed into a £4m mixed-use development.

The Bruce Building is one of the city??s most iconic historical buildings.  Located on Percy Street it was officially unveiled in 1900 by local architect Joseph Oswald as the headquarters for Newcastle Breweries.  Over a hundred years later, the Grade II listed building is still in partial use but will again be fully utilised following the new development.

This landmark building is set over three storeys and has retained many of its striking original features and detailing. Bought by Kings College of Durham University in the 1950’s, it became part of Newcastle University in 1963.

 

Most of the Bruce Building is currently vacant but plans are in progress for Michigan Investments Limited to develop it and create sixty high-specification studio and one bedroom apartments as well as a café/restaurant, retail units and serviced offices. They have chosen local firm Elborn Design to be the architect for the scheme due to their considerable experience redeveloping historical buildings in the area.

 

Michigan Investments Limited completed the purchase of the Bruce Building following negotiations with Storeys Edward Symmons, property and asset consultants, acting on behalf of Newcastle University.

 

Bill Lynn of Storeys Edward Symmons said: “Ourselves and the University were keen to find a purchaser who would be sympathetic to the building’s history and status and be a complimentary use for the University.  The negotiations took place over several years with timing and access arrangements dependent on the adjacent development which was completed earlier this year.”

 

Funding for the purchase was arranged with the Newcastle, Saville Row, branch of Handelsbanken. Mike Brunskill, Branch Manager at Handelsbanken commented: “We have been working with Mark for some time on this transaction and his plans for the iconic Bruce Building are very exciting. We are delighted to have become principal bankers to Michigan and are equally delighted to be part of this major city centre renovation project”.

 

Image source: Walton Robinson

 

 

 

 

 

 

 

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