Ambitious North East commercial property, hospitality, and leisure operator, Sayturk Group, has successfully acquired the lease for Metropolitan House in Newcastle city centre, with advice from leading commercial law firm, Sweeney Miller Law, following planning approval from Newcastle City Council in November.
The property, which previously housed retail and office units but currently stands empty, will be converted into a stylish boutique-style hotel and bar with further plans for an impressive private rooftop garden terrace for the use of hotel guests. While transforming the venue, located at 19-21 Collingwood Street, to include a 21-bedroom hotel, it will undergo considerable refurbishment to bring it back to its former glory, and the style of the hotel will reflect the building’s history.
New leaseholder, Sayturk Group, is a high-growth property development, hospitality and leisure operator based in the North East and manages several individually designed sites, including concept bars, late-night venues, pubs, cafes, and luxury holiday apartments. Most recently, Sayturk Group took over the lease of the popular European-style café bar Société on Grey Street, Newcastle, and the former Chicken Coop restaurant adjoining Metropolitan House.
The new lease was negotiated by colleagues from leading commercial law firm, Sweeney Miller Law’s Commercial Property department.
This transaction comes on the back of several other high-profile deals in Newcastle’s bustling hospitality sector secured by Sweeney Miller Law’s successful Commercial team, including Liberty House on Westgate Road, Osbornes in Jesmond, and Swarley’s in the Bigg Market.
Commenting on the transaction, Sweeney Miller Managing Partner, Surbhi Vedhara, said:
“This is an incredible acquisition for Zafer and the Sayturk Group; it was great to work with them again as they continue to grow, and we look forward to continuing to support them in the future. The plans for the venue are very exciting, and it is shaping up to be a fantastic addition to the Newcastle hospitality scene.”
Zafer Saygilier, CEO of Sayturk Group, said:
''Sweeney Miller, led by the esteemed Surbhi Vedhara, was entrusted with managing the legal intricacies of the acquisition. The firm's role included conducting exhaustive due diligence, negotiating terms of the lease. Her expertise and dedication were instrumental in the successful completion of the Metropolitan House Building. Their meticulous attention to detail and proactive approach allowed us to overcome complex legal hurdles and achieve our vision for this landmark project. She is simply the best professional in her field to make the complex processes as smooth as possible. This is our 7th deal completed in the last 24 months with the assistance of Surbhi and her team and another major project in the final stages of completion taking this to 8 projects in total."
In addition to its strong client base in the North, through its offices in Newcastle and Sunderland, Sweeney Miller Law is instructed by individuals and businesses from across the UK. Through its expertise, reputation and service excellence focus, the firm stands out across commercial, corporate, licensing, dispute resolution, conveyancing, private client, and family work.
