Empty offices in a prominent Newcastle city centre building are set to be converted into more than 130 apartments.

Cathedral Square, a 1970s building set on the site of the city’s former town hall, was acquired in an £8m deal by Monument Real Estate two years ago, with the property company hoping it would act as a catalyst for more local investment. The firm's original plans for the property, which looks out over the Bigg Market and Newcastle Cathedral, were to turn office space in 2 Cathedral Square into 35 flats.

Those plans have been extended, however, and proposals have now been made which could see the building, which counts Government offices, a Job Centre, the Revolucion de Cuba bar, Simply Greek and Co-op Bank as tenants, become home to 139 serviced apartments, through the addition of an extra three floors.

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Monument Real Estate is aiming to secure detailed planning consent for the redevelopment of 2 Cathedral Square, with extensive exterior and interior enhancements. If given the green light, the company says the new investment will help transform the office building and deliver a more energy efficient building to meet the needs of modern city centre living.

The plans, designed by Xsite Architecture, are set to go before Newcastle City Council in the first quarter of 2024 and if approved, redevelopment work will follow with the first apartments potentially ready in 2025.

Tom Wooldridge, director and founder of Monument, said demand for high quality serviced residential accommodation in the city centre remains high, with significant investment and regeneration throughout the Bigg Market already under way or in the pipeline.

He said: “Our latest plans for 2 Cathedral Square further support the significant investment that has been made to rejuvenate this historic part of Newcastle. There is a strong desire to invest in the building to raise it to a much higher standard of residential accommodation than the existing property would be able to offer.”

Helen Marks, director at planning consultancy DPP, said: “The planning consent secured in 2022 does not enable Monument to enhance the exterior of the property. The current building is outdated, and the fresh proposals will allow them to bring forward a fantastic redevelopment project, which is far more appropriate for this culturally rich and historic part of central Newcastle.”

Xsite Architecture’s head of practice, Tim Bailey, added: “A building as significant as 2 Cathedral Square, standing in such a central location, should ideally have more stature than it currently has. Our designs seek to elevate its prominence and deliver a high standard of city centre living to meet 21st century needs.”