Property sale boosts Manorfields regeneration scheme
The transformation of a key area of Tyneside is set to continue following the £300,000 sale of two run-down cottages.
The Manorfields development scheme led to the creation of around 40 detached residential properties near Coach Lane in Benton. But the area has been blighted by the appearance of two semi-detached cottages at the entrance to the housing estate.
However the area is set for further improvement after Newcastle University, which owned the cottages, sold them to HRT Developments in a six-figure deal with help from chartered surveying firm Bradley Hall.
Planners have granted HRT permission to demolish the cottages and build new detached homes in line with other properties at Manorfields.
Sean Archer, estates property manager at Newcastle University, said: “The two cottages were charming in their heyday and were occupied by members of staff and private tenants. However, they required modernising. It would cost around £60,000 to upgrade each one and for us that wasn’t viable.
“The sale will help us to fund the development of a new residential building at the university’s Longbenton Sports Ground – a property that will be occupied by the groundsman. It will also facilitate the creation of new homes that are more in keeping with the style of other properties at Manorfields.
“It was great to work with Bradley Hall and I was impressed with the way they led us smoothly through the sales process.”
Bradley Hall, which operates across the commercial and residential property sectors, was tasked with marketing the cottages and advising Sean on the completion of the sale.
Neil Hart, director at Bradley Hall, said: “Together with the university we are proud to be involved in the regeneration of a key area of Tyneside. Benton benefits from a high catchment area, is handily situated near main transport routes and is home to the newly developed largest Sainsbury’s in the North East.
“Manorfields has transformed the look of the area, which will be improved further when these cottages are demolished and replaced by sought-after, high quality new homes.”
Bradley Hall, which is headquartered in Newcastle, offers a broad range of services from residential and commercial estate agency through to property management, investment, business sales and disposals.
It’s the first time that the company has teamed up with Newcastle University, which has more than 130 residential and non-residential properties in its portfolio.
For further information, please visit www.bradleyhall.co.uk or call the Grey Street office on 0191 232 8080.
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