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Home » Case Studies » Fixed Charge Receivership

Fixed Charge Receivership

Newcastle Upon Tyne


Client

Private

Property

Grade II Listed 1,618.8 m² office building adjoining the ”Lit & Phil”, close to Newcastle Central Station

Project Summary

Landmark building constructed in 1902 as home of the City’s Literary and Philosophical Society (The “Lit & Phil”).   ​

A substantial and handsome Edwardian Baroque building with grand entrance hallway and elegant staircase.​

In October 2017, a section of Hadrian’s Wall was almost immediately to the west of the front of the building. ​

Prior to the receivership there had been interest from a boutique hotel chain, but marketing produced competitive interest and a good level of offers.  ​

The borrower identified a buyer at a level which would satisfy the debt and our means of dealing with this was subsequently challenged and upheld in High Court litigation.

Benjamin Tobin

020 8509 4422
btobin@strettons.co.uk