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Business & Economy

Planning consent for major Newcastle city centre office scheme

Newcastle City Council planning committee has approved plans by developers Marrico Asset Management and Helios Real Estate for a new 12 storey Grade A office building next to St James’ Park football ground and positioned at the head of St James’ Boulevard and Gallowgate.

The striking 134,562 sq ft building will feature large floor plates with nine floors of the 11 office floors offering 12,368 sq ft each.

Trevor Cartner of Helios Real Estate said: “The £90 million development at Strawberry Place scheme will provide 4 high quality buildings completing the redevelopment of Gallowgate.

“The 21 storey residential tower and new 12 storey office block will face onto Gallowgate and will compliment the recent regeneration in the surrounding area and will accentuate the gateway site.”

Aidan Baker, director at BNP Paribas Real Estate, added: “This will be exceptional space in a very high profile location close to the Gallowgate and Newcastle Helix business quarters.”

Mr Baker confirms the building is seeking pre-lets at an asking rent of £26 per sq ft.

He said: “There is a great deal of interest in Newcastle at present with an almost unheard of level of development of a number of buildings with different uses.

“Actual Grade A supply remains low with no new Grade A space currently available that makes this building especially attractive to occupiers seeking large floor-plates which will offer a high quality working environment in the heart of the city centre.”