The hotel has been sold to Aviva Investors
Cookstown-based developer McAleer and Rushe has finalised a £19m deal to sell a hotel it is building in Gateshead.
The hotel - which will be leased by Jury's for 35 years- has been sold to Aviva Investors.
McAleer and Rushe bought the quayside site for £5m from developer Opus Land in December 2007.
The company is also due to begin work on another major development in the north east of England in the new year.
It bought the Newgate Shopping Centre in Newcastle city centre for £18.2m four years ago, and is expected to spend up to £100m creating a mixed use development on the site.
Earlier this month, McAleer and Rushe announced it had leased part of its Swiss Centre development in London's Leicester Square to Mars Retail Group.
Mars are to launch their first M&M's World store on the site next year.
