A Sunderland office building, that was once home to HMRC, has been sold and undergone a refurbishment as part of a £2.5m investment.
Commercial property investor Kingscrown Group has snapped up the 36,000 sq ft Waterside House from its previous owner Topland Group and has invested significantly to remodel and refit the building, which is now ready to occupy.
Knight Frank and Connect Property have been appointed as joint agents for the building which is based on Sunderland Enterprise Park and has views of the River Wear.
Neighbouring office occupiers include Berghaus, TSB, Sunderland NHS and Sunderland City Council.
The refurbishment includes office suites, meeting rooms and break-out spaces, alongside kitchen areas to suit a variety of different sized businesses.
Director of Kingscrown Group Daniel Pollock said: “We acquired this property because we could see it had enormous potential. It was built specifically for HMRC which occupied it until 2017 and the whole building has always been open-plan.
“We’ve broken it up to create space that aligns with current market demand and we are already in talks with a number of occupiers.”
The design, by Standing Space and installed by main contractor Tech Cr8, takes its inspiration from Sunderland’s shipbuilding heritage and has an industrial feel with a blue colour palette to represent the nearby water.
The building also has 185 car parking spaces and EV charging points with offices ranging from 250 sq ft to 25,000 sq ft.
Patrick Matheson, partner at Knight Frank, added: “We’ve very quickly had a pleasing level of interest in the new offices which reflects the quality of the fit-out, its affordable location and the fact that the city, with its significant investment programme at Riverside Sunderland, is on the up.”