Naylors conclude Team Valley letting to Galliford Try as office market continues to strengthen
Naylors’ Office Agency team has completed a letting to one of the UK’s leading housebuilding, regeneration and construction groups as the out of town office market continues to strengthen.
Galliford Try North East has leased 6,309 sqft of office accommodation within Queens Park at Team Valley to accommodate the firm’s ongoing growth.
The move will see the business relocate its 35 office-based staff members from existing regional headquarters in Washington to Queens Park.
The new base lies within the second floor of Building 7 at Queen Park which offers Galliford Try improved connectivity, increased space for the team and higher specification facilities.
Jessica Ross, associate director at Naylors, who brokered the letting on behalf of UK Land Estates, added: “There is currently a lack of Grade A quality office space on Team Valley so we are experiencing upward pressure on rents.
“With the average deal size for office lettings at Team Valley standing at less than 3,500sq.ft, it is great news that we have facilitated a larger deal of 6,309sq.ft
“UK Land Estates were able to offer Galliford Try the benefit of fully fitted office space which is a rare commodity in today’s market and enables incoming tenants to make a swift and easy transition into their new base.
“We are currently working with UK Land Estates on fully fitted offices at Maingate Exchange on Team Valley where we hope to secure a similar deal in the coming months.”
Cliff Wheatley of Galliford Try North East said: “This is an important move for the business in the North East – putting us in a well-connected location within easy access of our regional sites and developments.
“UK Land Estates’ building was already fitted out to the specifications we needed, meaning the transition has been very easy.
“We look forward to welcoming clients to this smart home for the business.”
David Gibbs, commercial director at UK Land Estates, said: “It’s great to welcome Galliford Try to the Team Valley as a base for its continued growth.
“The company has played a leading role in developing and regenerating the North East, and shares UK Land Estates’ ambition to drive economic growth in the region.
“We do this by continually investing in the buildings and environment across our portfolio of key estates in the best locations across the region.”
Naylors and Knight Frank are joint letting agents for Queens Park and Maingate.