London investors snap up 354 Newcastle flats

HUNDREDS of flats in three prime Newcastle buildings have been snapped up by London investors in a significant property deal.

- COREENA FORD

Grace Real Estate Partners, an investment and asset management firm, already has a Tyneside portfolio of 478 residential units spread across 25 buildings, including apartment blocks in Newcastle city centre.

Now the firm has more than 800 units in its North East cluster after striking a deal to acquire 354 studio units in three freehold buildings in Newcastle.

Grace has taken over the rental homes in Tyne Bridge Apartments at All Saints Business Centre, Jesmond Apartments on Grantham Road, and Melbourne Apartments on Pandon Bank, close to Newcastle Quayside.