Praxis builds momentum with Newcastle office acquisition

Praxis has continued its push into the regional office market with the acquisition of One Trinity Gardens in Newcastle from Abrdn, React News can reveal. The investor has agreed a deal to acquire the 125,000 sq ft office on Broad Chare off Newcastle’s Quayside for £18.6m. The building has been owned by Abrdn for more than a decade, with the investor having paid £49.1m to buy the asset from the Crown Estate in the wake of the 2008 financial crash.