Newspaper article The Journal (Newcastle, England)

Commercial Property: Pounds 530,000 Ouseburn Project Completed; EXCLUSIVE

Newspaper article The Journal (Newcastle, England)

Commercial Property: Pounds 530,000 Ouseburn Project Completed; EXCLUSIVE

Article excerpt

Byline: By Graeme King

AHIGH-spec development in a 101-year-old building at the top of the Ouseburn Valley is celebrating completion - while larger schemes in the key development area are yet to leave the drawing board.

The pounds 500,000 project to establish 1 Boyd Street has been completed by Boyd Developments, a company specially established by three business partners who wanted to invest in the Ouseburn district.

Now the team is in negotiations to acquire other properties in the area.

The scheme has involved the refurbishment of an old wire working factory and warehouse dating from 1906.

The prominent site at the junction of Boyd Street and Stepney Road, where traffic enters the Ouseburn Valley, now contains nearly 3,000sq ft of office space and a 5,000sq ft restaurant unit.

Boyd Developments say they have totally regenerated the building to provide a "stunning" entrance to the Ouseburn Valley, on a site known as Gateway to the Ouseburn by both Newcastle City Council and regional development agency One NorthEast.

Development schemes further down the valley have yet to reach fruition with tension between developers and planners over the scale and nature of schemes.

Marketing man John Dias bought the building next door to 1 Boyd Street in 2002 and spent around pounds 300,000 renovating it from a derelict state, in conjunction with architect Will Moses, of CSM Architects, and Phil Thynne, of 7 Rivers Construction. Those three individuals then formed Boyd Developments (North-East) to continue their partnership with further developments in the area.

No 1 Boyd Street was their first purchase in October 2005 and negotiations with One NorthEast for partial funding of the development continued until December 2006 when construction work began.

The total build cost was around pounds 530,000 with the existing building altered and extended to provide a mixed use development. Many of the original features have been retained and it has been constructed with a possible further extension in mind. …

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