15 August 2014
Telereal Trillium has sold Newgate House, Rochdale to car care manufacturing group Tetrosyl Group Ltd.
The former Department for Work and Pensions (DWP) building, located at 1 Newgate opposite Rochdale Town Hall and adjacent to the Royal Exchange shopping centre, provides 50,000 sq ft. of office accommodation over seven stories. Originally constructed in the 1970s, it was vacated in July 2013 as part of a wider DWP programme to rationalise its property estate.
Commenting on the sale, Telereal Trillium Director of Disposals & Development Mark Kelly said: “The opportunity for Tetrosyl to occupy a prominent town centre development in Rochdale is an excellent opportunity for the company. We are delighted to achieve this agreement which will bring a vacant building back into full use, and will provide a positive impact on the local regeneration of the town centre.”
Following a complete refurbishment, the site will become a new HQ for Tetrosyl Group Ltd, bringing new life to Rochdale town centre and directly contributing to the regeneration project currently underway by the Council.
A Council spokesperson added: “The refurbishment of Newgate House and its use as an HQ for Lancashire business Tetrosyl Group will provide another boost for Rochdale, improving the streetscape and adding to the town’s vibrancy by bringing in more jobs.”
GL Hearn represented Telereal Trillium.