Naylors appointed to market £3m Maling Exchange development
Naylors’ office agency team has been appointed as sole letting agent on Hoults Yard’s £3m office hub, the Maling Exchange. The redevelopment project will breathe new life into a former jam jar factory, which was vacated over 75 years ago by former occupiers, Maling Pottery.
The property sits in front of the existing Hoults Yard business village and media hub in the heart of the Ouseburn Valley in Newcastle, which is home to over 90 companies employing 500 staff. Work is already underway to convert the warehouse into 40 customised offices catering for small businesses and move-on accommodation for bigger and expanding firms.
In keeping with the popular style of the highly successful Hoults Yard, the new offices will offer contemporary loft-style accommodation retaining original features such as exposed brickwork and beams, whilst offering modern facilities to occupiers including; a café, concierge reception, meeting rooms, showers and kitchen facilities as well as on site car parking and 24/7 security.
Simon Taylor, head of office agency at Naylors said: “Maling Exchange will become Newcastle’s most tech-enabled service centre and we are pleased to be marketing such a unique development. It will combine the features of an old industrial building with the benefits of superfast broadband and excellent communal facilities to create stylish, high quality workspace.”
“The development will address a shortage of innovative work space for new and expanding firms within the rapidly growing creative and tech sectors in the North East. There is very little commercial space like this on offer and it is already proving popular with a high level of inquiries coming in.”
Upon completion the development will provide over 45,000sqft of office accommodation ranging from small units for businesses of one to three people up to larger offices of more than 1,000sqft. There is also a separate unit, The Stables, which will comprise 10,500sqft of warehouse/industrial space with 3,500sqft of offices. The development will be open for business in June 2015.
Hoults Yard managing director, Charlie Hoult said “Our key investment is in technology. Maling Exchange will be the most high tech space for our clients to grow: Superfast broadband, VOIP phones, integral access and security. We are also creating a meeting room and events facility that will allow small firms to play big with customers and prospects.’