| the north east GATESHEAD PLAN GIVEN GREEN LIGHT G
ateshead Council has given the go- ahead for a five storey office building
after planners concluded that the proposals would 'make a significant contribution to the identified need for high-quality office floor space in the borough'.
The £12.5 million project, situated on Baltic Business Quarter next to the iconic quays, will be the first new development of Grade A office space in central Gateshead in nearly a decade when it completes in late 2019. Commenting on the decision, Sheena Ramsey, Chief Executive at Gateshead Council said: “The commission of this new office development is another step towards achieving the vision for the
broader Gateshead Quays. It’s an exciting time for the borough. Not only will it bring around 600 new jobs to Gateshead but it will give a much needed boost to the local economy.”
The striking 50,000 sq.ft building was
designed by Newcastle architects Ryder Architecture and it will be built by Wilmott Dixon Construction Ltd. The new office development is well
connected to Gateshead town centre, the Quays, the river and Newcastle City Centre. The attractive new space will be leased by BNP Paribas Real Estate and Director, Aidan Baker said: “Grade A office supply in Newcastle city centre and Gateshead has diminished significantly over the past three years and consequently demand outstrips availability for brand new accommodation. “The new office building at Baltic Business Quarter will therefore provide an excellent opportunity for potential occupiers to locate to the accessible and prominent area of Gateshead Quays. We foresee the flexible 9,000 sq.ft floor plates not only appealing to SMEs, but large corporates looking to base themselves in a high specification headquarters building with excellent car parking and amenity.”
GILBRIDGE HOUSE A
sset and property management company, FI Real Estate Management (FIREM), has secured Tyne and Wear’s largest office occupier deal of the year to date with the sale of Gilbridge House in Sunderland city centre. BNP Paribas Real Estate advised FI Real Estate. Hays Travel, the UK’s biggest independent travel agent, has purchased the building, adjacent to Keel Square public space and boulevard, in what represents the biggest occupier deal in Sunderland city centre for the past ten years. Gilbridge House will become home to Hays’ travel operations and 400 staff, currently spread over four sites in Sunderland.
Gilbridge House is a three storey office building originally built in the early 1990s and extending to 36,993 sq.ft. Hays’ purchase of the building, unoccupied since HMRC’s departure two years ago, is also the largest take up of office space in Tyne and Wear since 2016. Gilbridge House is located in an area
set to become Sunderland Music, Arts and Cultural Quarter (MACQ). The area incorporates the Empire theatre, the Dun Cow pub, the old Fire Station as well as the Magistrates Courts and the former Garrison Fields.
OSPREY HOUSE FINDS NIRVANA WITH NEW LETTING AT SILVERLINK BUSINESS PARK O
sprey House, located on Newcastle’s ever popular Silverlink Business Park, has seen the successful letting of 2,500 sq.ft to Nirvana Europe Limited, a niche travel company providing specialist travel and accommodation packages to sporting and leisure events worldwide.
This follows the refurbishment of this
prominent, two-storey building located in an excellent business environment only two minutes from Silverlink Retail Park. Gavin Cordwell-Smith, chief executive of Hellens Group, owners of Osprey House, said: “This letting illustrates that there is demand for good quality office space with excellent access to major transport routes and in close proximity to Newcastle city centre and its large workforce.” Following the refurbishment of the accommodation, we aim to offer occupiers high specification space at very competitive rates and in turn secure long term partnerships.” Aidan Baker, director at BNP Paribas Real Estate, joint letting agent for the building, said: “We are delighted to welcome Nirvana Europe to Osprey House. Along with their occupation, we also have
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Suite B, located on the ground floor, under offer and hope to announce details of this transaction shortly.” Ken Morris, managing director of
Nirvana Europe commented: “Relocating from North Shields town centre to this excellent business park accommodation allows this company to continue its steady progression towards becoming a significant player in the commercial world of this region.”
With regard to availability, the first COMMERCIAL PROPERTY MONTHLY 2018
floor accommodation is available to let and can accommodate occupiers from 2,500 sq.ft up to 5,860 sq.ft at a competitive rent of just £10 per sq.ft.” BNP Paribas Real Estate is joint letting agent of Osprey House with Naylors Chartered Surveyors.
Visit
realestate.bnpparibas.co.uk
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