Newcastle Offices Market Update Q4 2016

Published on: 30th January 2017

Newcastle Offices Market Update Q4 2016

The Newcastle office market tabled total take-up of 181,210 sq ft in the final quarter of 2016.

The Newcastle office market recorded total take-up of 98,733 sq ft across 21 deals in Q4 of 2016. This was compared to only 38,055 sq ft of take-up in the third quarter of 2016.

The largest city centre deals of the quarter saw Gateshead Council take 19,543 sq ft at Baltic Business Park and Regus take 12,785 sq ft at Cale Cross House, Newcastle Quayside.

Out of town take-up totalled 82,477 sq ft in Q4 of 2016 with True Potential acquiring 10,444 sq ft at Newburn House in one of the largest deals of the quarter.

Demand in the wake of Brexit has been predominantly for suites up to 5,000sq ft, in 2017 there are however several new requirements for 50,000 sq ft and 60,000 sq ft spaces, suggesting that demand may outstrip supply in the city centre.

It is therefore vital that existing landlords invest in refurbishment and the presentation of the right specification of stock, to ensure that any empty spaces are in line with the current needs of the occupier market.

To discuss the market report, please contact Robert Patterson, partner in our North East agency team.

Click here to download the Q4 2016 Newcastle offices market update.

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Grade A office space available in one of Newcastle's premier office buildings

We have been appointed as joint office agents on two floors in One Trinity Gardens. One Trinity Gardens is one of the North East’s most desirable office buildings, offering Grade A offices in an outstanding setting with a full height atrium giving a great sense of arrival. Working on the Quayside provides you with a wide range of amenities including hotels, restaurants and bars, as well as being just a short walk from Newcastle City Centre. The building itself includes a stunning entrance with full height central glazed atrium set behind a distinctive garden feature with a central sculpture. The fully fitted self-contained offices also provide access to a terrace on the 6th floor that boasts panoramic views of the city.

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We have been appointed as joint office agents on two floors in One Trinity Gardens. One Trinity Gardens is one of the North East’s most desirable office buildings, offering Grade A offices in an outstanding setting with a full height atrium giving a great sense of arrival.

Working on the Quayside provides you with a wide range of amenities including hotels, restaurants and bars, as well as being just a short walk from Newcastle City Centre. The building itself includes a stunning entrance with full height central glazed atrium set behind a distinctive garden feature with a central sculpture. The fully fitted self-contained offices also provide access to a terrace on the 6th floor that boasts panoramic views of the city.

[fulltext] =>

We currently have two spaces available within the landmark building. The 4th floor is 21,695 sq ft and is offered as a whole or in part, as it is capable of sub-division. The 6th floor is a smaller suite of 6,671 sq ft and provides a great opportunity for a creative business to occupy this quirky space a very competitive rent for a quayside office address.

You will be in great company as current occupiers include Allied Irish Bank, Deloitte, RBS, Nomad Digital and our joint agents on the building BNP Paribas Real Estate.

Commenting on the appointment, Robert Patterson, partner in our agency team said, “We are pleased to be instructed on this impressive office building. Following an encouraging year in the Newcastle office market we are looking forward to the year ahead.”

Click here to view the property listing.

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Office Agency

Our office agency team provide advice and expertise on the sale, acquisition, marketing, development and leasing of office properties and developments across the country. Utilising in-depth experience of the UK office sector coupled with extensive knowledge of the local and regional marketplaces in which we operate, each team possesses unrivalled skills to work to your significant advantage. Our specialist knowledge ranges from individual office suites to out of town business parks and new-build city centre developments.The specialism is supported by a broad range of additional services within the business. Agency Disposals: Realistic marketing advice and methodology Comprehensive market knowledge and full research facilities Extensive enquiry database Innovative marketing ideas Appraisal of alternative uses with in-house town planning advice Agency Acquisitions: Obtaining a clear understanding of our client’s requirements and commercial objectives Comprehensive property stock search and identification of development opportunities Objective advice on the suitability of identified properties Negotiation of favourable terms Full back up service including structural surveys, planning advice and fitting out etc. Valuation and finance advice Development Consultancy: Thorough market research Advice on selection and appointment of consultants Undertaking of full financial appraisals and timescales Advice on optimum composition of development Assessment of deliverability Advice on specification and scheme layout End user knowledge   Contact Us

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Our office agency team provide advice and expertise on the sale, acquisition, marketing, development and leasing of office properties and developments across the country.

Utilising in-depth experience of the UK office sector coupled with extensive knowledge of the local and regional marketplaces in which we operate, each team possesses unrivalled skills to work to your significant advantage.

Our specialist knowledge ranges from individual office suites to out of town business parks and new-build city centre developments.The specialism is supported by a broad range of additional services within the business.

Agency Disposals:

  • Realistic marketing advice and methodology
  • Comprehensive market knowledge and full research facilities
  • Extensive enquiry database
  • Innovative marketing ideas
  • Appraisal of alternative uses with in-house town planning advice

Agency Acquisitions:

  • Obtaining a clear understanding of our client’s requirements and commercial objectives
  • Comprehensive property stock search and identification of development opportunities
  • Objective advice on the suitability of identified properties
  • Negotiation of favourable terms
  • Full back up service including structural surveys, planning advice and fitting out etc.
  • Valuation and finance advice

Development Consultancy:

  • Thorough market research
  • Advice on selection and appointment of consultants
  • Undertaking of full financial appraisals and timescales
  • Advice on optimum composition of development
  • Assessment of deliverability
  • Advice on specification and scheme layout
  • End user knowledge

 

Contact Us

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Royal Quays Marina set to welcome popular North-East restaurant

Popular Newcastle pizza restaurant, The Herb Garden, has now been confirmed as the tenant and will open the venue – its second in the North East – in September 2016.  The Herb Garden was one of several parties interested in the premises, which comprises 1,863 sq ft and is situated in the Albert Edward Dock, in an area considered by many to be the North East’s finest boating location.

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Popular Newcastle pizza restaurant, The Herb Garden, has now been confirmed as the tenant and will open the venue – its second in the North East – in September 2016.  The Herb Garden was one of several parties interested in the premises, which comprises 1,863 sq ft and is situated in the Albert Edward Dock, in an area considered by many to be the North East’s finest boating location.

[fulltext] =>

Quay Marinas’ managing director, Simon Haigh, said: “Our vision was to attract a high-quality restaurant or café venture to the marina and in The Herb Garden we feel we are getting the best of both worlds.  With its penchant for quirky design and its delicious menu, it’s a fantastic fit for us and we are sure that it will prove to be popular with diners thanks to its waterfront location and our established visitor base.”

The venue aims to make the most of its waterside location, with a large outdoor seating area overlooking the marine basin.  The Herb Garden will have the feel of a relaxed café during the day, with a more intimate restaurant ambience in the evening.

Richard Marks, one of the co-founders of The Herb Garden said: “We’re thrilled to be expanding The Herb Garden out to a nautical setting while continuing to run our existing restaurant in Newcastle. We hope we can put our mark on what is already a beautiful and unique environment.”

We were appointed by Quay Marinas specifically to bring a restaurant or café to the site to enhance the facilities on offer and cement the Albert Edward Dock’s reputation as a leading leisure attraction.

Commenting on the opportunity, Mark Convery, agent in our Newcastle office, said: “The Herb Garden has become a well-established restaurant operator within Newcastle City Centre over previous years and to have acquired its second premises’ at Royal Quays Marina emphasises the growing ambition Richard and his business partners, Ryan Darrington and Lucy Clinch, have to drive the business forward. This was a unique development opportunity that will attract a variety of audiences to the Marina and hopefully make it flourish to its full potential.”

In addition to attracting thousands of tourists each year, the Royal Quays Marina has a current capacity for 350 berths plus 100 boats ashore, with the potential to accommodate 500 berths.  It is an established destination for yachts and motorboats from the UK and overseas, with regular cruises from Holland, Denmark, France and Germany.

There are over 1,000 residential properties on the Royal Quays site, with works due to commence on the adjoining Smiths Dock development imminently, which will bring a further 800 homes to the area and provide improvements to transport links.

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