May 29, 2019 @ 12:30 by Steven Hugill
Three lettings have completed at a Newcastle office building, exceeding the existing headline rent set more than a year ago.
Lambert Smith Hampton (LSH) and Cushman & Wakefield, acting for Aberdeen Standard Investments, negotiated the latest lettings, at Central Square South, to Sanderson Weatherall, Towergate Insurance and HGF Ltd.
The lettings totalled 4,294 sq ft, 2,840 sq ft and 2,795 sq ft, respectively, and are spread over the second and third floors.
The three transactions all exceeded the existing headline rent (£23.50 per sq ft) set in quarter four of 2017.
Apart from a small suite on the second floor, the first floor is the last remaining space left within the building.
Michael Downey, of LSH’s Newcastle office, said: “Central Square South was originally built in 2001 and our client’s capital investment, through a detailed refurbishment programme in 2017/2018, is now reaping the benefits, with headline rents set within the building year-on-year.
“The added on-site amenities and investment in technology and wellbeing has helped to future-proof the building.
“We hope to announce further lettings shortly.”