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