The property, at 1-3 Gallowgate is a large red brick and stone property on the corner of Gallowgate which was first built in the late 1800s.
In the shadow of St James’ Park, the Grade I listed building was initially renovated by Lugano in 2012 when it was turned into student accommodation. Now the building is set to be transformed into an aparthotel with eight apartments, each with two or three bedrooms, following a six-figure investment.
Lugano chairman Richard Robson said: “This beautiful building is very close to our heart. Lugano first renovated it a number of years ago and when we went in, it had been empty for decades. A former travel bureau, it was full of magazines and brochures from the 1960s and 1970s, painting a very different picture of our city than the vibrant destination it is today.
“The project itself is right up our street – the sympathetic preservation, restoration and repurposing of a property that is much loved by the city it calls home. It is a building that most city visitors will have seen, but few will have actually thought much about, beyond it being such a striking structure. We are passionate about not only protecting important listed buildings like this, but also ensuring they continue to get used and don’t fall into a state of disrepair. This project is a prime example of that and will ensure that it is not only preserved as a city centre icon, but also enjoyed by many from outside out region who come to stay,” he added.
“Lugano has built its reputation on repurposing properties that may no longer be deemed fit for purpose. We’re hoping to have the aparthotel completed later this year and hopefully welcome shoppers and visitors into the development and make sure they have a city break to remember,” said Robson.
Lugano has appointed Dream Apartments to manage the property, having worked with them on similar schemes at 66 Bigg Market and Aerial House, the former Tyne Tees building on Newcastle Quayside.
“This third project with Dream apartments ensures that they have a presence in each vibrant corner of the city, the tranquil Quayside, buzzing Bigg Market and now the vibrant Gallowgate, offering something for everyone throughout the city. I’m genuinely excited about overseeing this project and delivering another fine destination for people staying in Newcastle,” said Robson.