Wealth management specialist launches North East operations at Portland House

Newcastle city centre’s award winning Portland House continues to see strong demand for its sustainable workspace after securing a major new tenant.

Wealth management specialist Raymond James, Monument has agreed a five-year deal, brokered by commercial property agent Parker Knights, to take 1537sq ft of space on the back of its decision to open a Newcastle branch earlier this summer.

Part of Raymond James Investment Services, which has been operating in the UK since 2001, Raymond James, Monument plans to develop its bespoke investment services across the North of England and the Scottish Borders from a suite of ground floor offices at Portland House.

The team, led by branch principal Gary Fawcett along with wealth managers James Carrick and Rob Brotherton, is already seeing demand for its range of investment and financial planning services from individuals, families, business owners, trusts and charities.

Operating from Portland House will help the business to benefit immediately from sustainable office space which will accommodate its future needs as operations expand and workforce numbers increase.

Anthony Scott, head of business development at Raymond James Investment Services, said: “We’re very excited about the launch of Raymond James, Monument based at Portland House.

“It’s in an excellent, dynamic location, enabling us to support clients and drive further investment and growth across our key northern markets.”

Following the multi-million-pound revamp of the former Newcastle Business Society headquarters by developers Oliver Holland and James Keegan, the first tenants moved into Portland House earlier this year.

New investment has delivered an ultra-modern workspace for ambitious businesses requiring high quality, energy efficient and sustainable office accommodation.

Michael Downey, director at Parker Knights, joint letting agent for Portland House together with BNP Paribas Real Estate and Sanderson Weatherall, added: “With excellent access to the city centre, other professional services and transport links, Portland House is an ideal location for Raymond James to open for business in Newcastle.

“We are seeing a lot of interest from other potential tenants and while we have limited vacant space available with suites ranging from 1800 – 9000sq ft, we fully expect to reach full occupancy by the end of 2023.”

• See the September/October edition of North East Times Magazine for a detailed feature on Raymond James, Monument