Thursday, Apr 23, 2009
Newcastle City Council seeks Northern Rock commercial BTL loan (LOL)
BBC: Council buys Northern Rock Tower
Newcastle City Council is to spend more than £20m to buy Northern Rock's empty "glass tower". The structure in Gosforth was completed last November and was to have been the bank's new headquarters. But when the bank got into difficulties and was subsequently nationalised, it put the structure up for sale. The council said it planned to let the 120,000 sq ft building to environmental support firm Eaga, where its 2,500 staff will move. The council is to borrow the estimated £22m to buy the building, which it said was a "sound commercial investment."
Posted by jack c @ 08:50 PM (313 views) Add Comment
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