Naylors Gavin Black overcomes ‘challenging’ market with £2.6 million DEFRA office deal

A commercial property consultancy says it has withstood a “challenging office market” to secure a £2.6 million sale.

Naylors Gavin Black has brokered a deal for DEFRA to buy Tyneside House, on Newcastle Business Park.

The deal for the 32,000sq ft base was led by partner Chris Donabie, on behalf of MARCOL company CGIS.

DEFRA has bought the 1990s-built, three-storey building as an office for the Environment Agency, which is a longstanding Tyneside House tenant, having leased the building for more than 25 years.

Chris said: “We are pleased to have been able to dispose of Tyneside House for our client in what remains a challenging office market.”