The site is located on Lindisfarne Drive to the south of Gateshead town centre and presents an exciting opportunity to deliver a showcase development.
The site is cleared and brownfield in nature extending to approximately 10.26 acres. It previously accommodated three multi storey blocks, 12 maisonette blocks and one block of bungalows, all of which were built in the 1960’s.
An excellent residential development opportunity within a popular and convenient location.
David CraigProperty agent
An information pack is available
We are instructed to dispose of the freehold interest via an Informal Sealed Tender process. Bidders are asked to submit offers in Savills standard bid template a copy of which can be obtained by emailing David Craig or Emma Young.
Please note that the seller is not obliged to accept the highest or any offer. All offers received are subject to contract. The seller is not obliged at any point to exchange contracts. Interested parties should note that overage and or clawback provisions may be incorporated into the legal contract.
Following the selection of a developer, Savills will conduct a marketing exercise whereby Registered Providers will be invited to submit offers. The developer will then be expected to adopt the highest bid value achieved in order to maximise site value.
The successful developer should also be aware that it will be required to instruct Savills in respect of bulk sale units to a Registered Provider.
The site is to be sold freehold with vacant possession.