North East Avison Young Report Impressive Take Up of
2023 will see the first speculative space at the Reuben Brothers (Newcastle) Ltd East Pilgrim Street regeneration scheme when Bank House becomes available for occupation. Bank House is an impressive 12
storey Grade A, BREEAM Excellent
office building at the southern gateway to Newcastle city centre offering 360 degrees of spectacular views across the city and beyond. Avison Young and Knight Frank are joint letting agents.
Pilgrim Place can accommodate a further 260,000sq ft of speculative office space alongside Bank House.
Work is also proceeding at pace on the Reuben Brothers (Newcastle) Ltd
Pilgrim’s
Quarter which will house up to 9,000 civil servants for HMRC in a new 463,000sq ft complex incorporating the listed Carliol House, Market Street and Pilgrim Street facades. Occupation is scheduled for 2027 of this major project which will bring back strong footfall and economic benefits to Newcastle city centre.
Avison Young acted on behalf of Reuben Brothers (Newcastle) Ltd in relation to the letting to HMRC which is the largest ever letting in Newcastle city centre and earned the agent the 2022 North East Insider Media Commercial Property Deal of the Year. They were also winners of the 2022 North East Insider Media Property Agency of the Year.
Avison Image of Bank House (Credit Ryder Architecture)
Over the last three decades there was
rush to the East Quayside new office development the
by professional
and legal sectors because the fixed fabric of Newcastle centre
city could Tony Wordsworth not provide the
larger floorplates of office accommodation then required.
‘Times they are a changing now’ with an improved offer of top-quality Grade A space being built speculatively by the private sector within the city centre at schemes such as Newcastle Helix and at East Pilgrim Street.
The lettings announced earlier this year to Clifford Chance (15,000sq ft) and Hay and Kilner (14,600sq ft) at The Lumen, Newcastle Helix sees take up of 2 further floors within this exemplar Grade A office building.
62
The Lumen and The Spark grade A offices are located at the heart of Newcastle Helix, a unique partnership between Newcastle City Council, Legal & General and Newcastle University. A 24-acre development that
internationally renowned innovation cluster.
Tony Wordsworth, Director, Avison Young comments. “High profile companies have been attracted to Newcastle Helix which has set new high standards for office space in Newcastle.”
Simon Beanland, Principal – Investment, Avison Young
brings together industry leaders, businesses and top researchers into an
Womble Bond Dickinson have recently taken occupation of 40,000sq ft at the adjoining building, The Spark moving 420 employees from their old Quayside offices – see para 1. above!
a
The Lumen, which extends to 106,000sq, ft over 8 floors, is already occupied by a myriad of companies and organisations, including Homes England, North of Tyne Combined Authority, Newcastle upon Tyne NHS Hospitals Foundation Trust Savills and Scott Logic.
Young participate in
Insider Media NE Property Round Table
Insider’s North-East Property
Round
Table brought together a group of industry experts – all either winners or shortlisted companies
from
the recent Insider North East Property Awards 2022 - to find out how the market is performing, the trends they are seeing and examine some of the challenges.
Simon Beanland, Principal, Investment at Avison Young, Newcastle took a look at activity within the office and investment sectors in the North East.
“I think it’s going to be another year, or possibly two, before occupiers understand exactly what their office requirements are. A number of corporate occupiers in Newcastle have downsized in the last 18 months and generally these parties are moving to new
COMMERCIAL PROPERTY MONTHLY 2022
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72
