North East property developer acquires landmark property03/05/2016
Newcastle-based Lugano Group has recently acquired Onyx House, a modern, high specification office located on a key commercial estate at the heart of Teesside.
The 13,126 sq. ft. office building is based on Portrack Interchange Business Park in Stockton-On-Tees; a principal commercial hub on Teesside, combining offices, trade counter, retail and industrial uses, with excellent access to the regional road network.
The Lugano Group is one of the largest investment and development businesses in the North East, with a land and property bank in excess of £120 million, with properties from Northumberland down to Staffordshire.
Among its assets are the Kensington House Aparthotel and the former Gresham Hotel in Jesmond, Newcastle, properties at High Bridge and Gallowgate in Newcastle City Centre, Moongate House on Team Valley and the 2,500 acres Dissington Estate in Northumberland.
Richard Robson, Chairman of the Lugano Group said: “Onyx House is a very high quality office building in a good location and in excellent condition. This is a significant addition to our commercial portfolio and we are in discussions on both other possible acquisitions as well as several significant projects within our existing properties. Mincoffs have played a critical role in advising and supporting us on this deal and they are an important and valued partner in delivering many of our projects.”
Ryan Bannon, Partner at Mincoffs Solicitors said “We have worked with The Lugano Group for many years and are very pleased to have played a key role in acquiring this exciting property.”