Durham Group welcomes Isla

Durham Group - new employee Isla

Durham Group are pleased to have completed a long term lease agreement with the team behind the Michelin Guide recognised Coarse Restaurant who will be opening their next Durham venue at 53 North Road.

Isla will be open 9am to 5pm serving brunch and small plates along with all the drinks you would expect at all times of day!. Refurbishment works are underway with an opening date likely for June 2024.

Chief Executive Gurpreet Jagpal said “this letting is really exciting for Durham City Centre as evidenced by the excitement seen on social media in recent weeks. Ruari, Gemma and Craig have set the bar high with Coarse and I am sure this venue serving brunch and small plates during the day will be equally as good.”

He added “This letting is another great example of the impact Graham Soult (CannyInsights.com) has had through his work with independent retailers in Durham City. Graham introduced the trio to Durham Group some time ago and when this site became available, it suited their needs perfectly”

Durham Group were advised by professional advisors DWF and Carter Towler

Durham Group makes a double acquisition in Durham City Centre

Durham Group completed the double acquisition of an office building and an industrial building within a couple of weeks of each other in two off market transactions.  Both transactions were completed swiftly with the office building acquisition being completed within 15 working days of terms being agreed.

The industrial unit on Frankland Lane is fully occupied  by a local taxi Company on a long term lease. The Office building on Claypath is vacant and we will be formulating our plans for this building during early 2024.

With thanks to the professional advisors who worked on the transactions including DWF law, RA Jackson Chartered Surveyors and Carter Towler LLP

Bede House Durham commercial property purchase

Retail trade association acquires its Durham offices

North-East property investment company Durham Group is pleased to announce the sale of Bede House to the Federation of Independent Retailers (the Fed) in an off-market transaction.

Previously known as the National Federation of Retail Newsagents (NFRN), the trade association relocated from London to office space in Bede House in 2020 after 100 years of being based predominantly in the capital.

Durham Group worked closely with the Fed with the relocation, securing it as a tenant in the 26,000 sq. ft. two storey building which had just undergone significant refurbishment.

By relocating to the north-east, the trade association’s contact centre operation and administration departments which had previously been based in nearby Gilesgate were consolidated into the new premises.

Commenting on the sale, Durham Group chairman Lord Wrigglesworth said: “The investment in Bede House and this disposal are exactly the type of projects we take great pleasure in delivering.  Following our acquisition, we completed a significant investment in the building, improving its energy efficiency and layout to suit the modern-day office. Working closely with Chris Pearson at Naylors Gavin Black, we showcased to the Fed the benefits of this building and Durham City as a place for the organisation to be based.”

Durham Group Chief Executive Gurpreet Singh Jagpal added: “We received an off-market approach from the Fed to purchase Bede House and are pleased that the association continues to invest heavily in the city following its relocation. The Fed’s wish to acquire the building is evidence of the success of its move and a vote of confidence for our region. We continue to invest in a number of ongoing projects that we have in the county.”

Founded in 1919 and supporting over 15,000 independent retail stores across the UK and Ireland, the Fed has recently recruited a number of key positions from the region, including new Chief Operating Officer Graham Stafford.  Now, nearly 60 staff operate out of the Durham head office.

Commenting on the acquisition, Mr Stafford said: “We are delighted to have completed the purchase of Bede House and this move reflects the Fed’s significant investment in the region since relocating nearly three years ago.

“The Fed has a long history of supporting independent retailers and they need our help and support more than ever.”

The Fed’s National President Jason Birks, who runs a shop in Peterlee, County Durham, said: “It was a historic occasion when the Fed moved our head office out of London and to Durham. This significant step was taken following a review of our business, and it reflected our commitment to provide high-quality support and services to independent retailers.

“Buying Bede House secures our future in Durham and is a proud new chapter in our 103-year history.  It will allow us to push ahead with our strategic plans to further enhance the Fed to help make members money, save them money, and find easier ways to do business.”

Durham Group Estates was represented by DWF Law and the Fed was advised by Carter Towler (Durham Office) and EMG Solicitors.

Bede House is fully occupied with Azets and Bruker UK as tenants.

Durham North Road property acquisition

50-53 North Road, Durham – Acquisition complete

Durham Group Estates are pleased to have completed the acquisition of 50 – 53 North Road Durham.  The mixed use property includes retail outlets, hospitality venues and residential accommodation.

We would like to thank our advisors Emily Wood at Lambert Smith Hampton (investment agency), Lee Pickett at DWF (legal) and Matt Faulkes at Carter Towler (Property management).  Our thanks also to Jamie Sim at Avison Young who acted on behalf of the vendors and enabled the swift completion of the acquisition.

Read the Avison Young press release here.

Durham Group Estates - BEde House refurbishment

Refurbishment of Bede House, Durham, completed with £750,000 investment

Durham Group Estates, a leading privately owned North East property investment company, has completed the second phase of a £750,000 refurbishment of Bede House, Belmont Business Park, Durham.

The company which operates across the North East and Yorkshire, completed the first phase of the 26,000 sq ft two-storey office building in September 2019, with national accountancy firm, Baldwins, occupying the 13,000 sq ft first floor, as part of a major investment in the region.

Lord Wrigglesworth, chairman at Durham Group Estates, said: “2019 was an excellent year for the business and with the exception of Bede House which was undergoing refurbishment, we were fully occupied across all our commercial, industrial, retail and student accommodation. This is testament to the financial investment we place in our buildings as well as the relationship Gurpreet and our property management team have with our occupiers. We look forward to making increased investment in the North East and Yorkshire during the coming year.”

Read the full article on Northern Insight.

Image: Northern Insight.

Durham Group Estates - commercial property in North East England and North Yorkshire

Leeds surveyors maximise property investment with purchase of Durham business park

Carter Towler has assisted Durham Group Estates Ltd with the purchase of Durham’s Bede House on Belmont Business Park. The Leeds-based chartered surveyors have also been appointed to manage the two-storey, 25,000 sq ft office building.

Situated on the edge of Durham’s city centre, Bede House was purchased off market and will be extensively refurbished before being let.

Durham Group Estates’ chief executive, Gurpreet Singh Jagpal, said: “We are extremely pleased to be adding this sizeable property to our commercial portfolio.

“It was built in 2001 and is ready for upgrading now. We will be investing a further £500k creating contemporary, open plan office spaces with high quality, eco-efficient features such as low energy lighting and air conditioning.

Full article: bDaily.