Member Article

St John's College lease gets Cathedral's blessing

Durham University’s St John’s College has secured a long-term lease from Durham Cathedral following negotiations handled by JK Property Consultants.

The property at 16 South Bailey, Durham will be used as teaching space and an administrative hub but will also house colleagues from CODEC, the research centre within St John’s College, as well as the soon to be created Durham University Centre for Practical Theology.

St John’s College will be completely refurbishing the property, ensuring its future continues to be closely tied to the Cathedral. The property, which was constructed around 200 years ago and is Grade II listed, has previously been used as a private home and was occupied by Michael Ramsey while Bishop of Durham.

JK Property Consultants acted on behalf of Durham Cathedral, providing portfolio advice and negotiated with St John’s College to agree suitable terms for the lease.

Thomas Conneely at JK Property Consultants said: “We provide advice to a range of clients who hold property portfolios for commercial purposes, helping them unlock returns and improve asset performance. Property investment continues to provide higher returns than money in the bank, but specialist knowledge is required to avoid risk and maximize potential. We are very pleased to have achieved this letting, which reaffirms the bond between two of Durham’s oldest institutions, Durham University and Durham Cathedral.”

For more information, please visit www.jkpropertyconsultants.com.

This was posted in Bdaily's Members' News section by Kevan Carrick .