We take a look at how Grade A out of town office accommodation offers occupiers value for money

September 2016

At a regional level the office market is showing signs of improving health after the end of the recession, as we see demand and supply balance improving, particularly in the Newcastle City Centre market.

We believe the out of town office accommodation reflects the best value for money with regards to specification and the type of property, with Grade A space on offer for nearly half of the rents when comparing to the City Centre. Obviously location is key, however those properties that offer excellent amenities and close to transport hubs/road networks are just as popular.

To demonstrate this, we have highlighted three properties all located South of the River Tyne:

8 Merchant Court, Monkton, South Tyneside

The property offers ‘Grade A’ office accommodation of upto 6,670sq.ft across ground and first floors. The property benefits from suspended ceilings, air conditioning, full accessed raised floors and excellent parking provision. The property is located on Monkton Business Park in Jarrow which is close to the A19 trunk road and Newcastle City Centre is a 10 minute drive to the North West. The property is on the market for a quoting rent of £9.00psf which is great value for money in respect to the type of accommodation available. Small suites can be created.

First Floor, Lighthouse View, Spectrum Business Park, Seaham

Lighthouse View is located on Spectrum Business Park, a high quality office development and business park in County Durham. The property offers ‘Grade A’ accommodation across part of the first floor extending to 13,953 sq ft and a good parking allocation with approx. 3 spaces per 1,000 sq ft. The first floor is available as a whole or two halves at a rent of £5.50psf.

2B Whitehouse Road, Peterlee

he property forms part of a larger office park and provides high quality Grade A office buildings which has been designed to provide highly efficient comfort cooled floor space which is suitable for corporate occupation, back office use or call centres. The property was previously occupied by a large call centre and benefits from a well-equipped professional standard catering kitchen. The property is available to purchase on a long leasehold basis for a very competitive figure of £595,000 or To Let at £7.50psf. The property also benefits from 178 car parking spaces, which represents a generous ratio of one space per 164 sq ft.
For further information about our office agency services South of the River Tyne please contact Jessica Simpson on 0191 232 7030 or email jessicasimpson@naylors.co.uk.

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