Hive, the employee feedback platform, has leased a 4,378 sq ft suite on part of the fourth floor of Taras Properties’ Broadacre House, Newcastle upon Tyne. Hive has agreed a full repairing and insuring lease for a term of 10 years subject to an upwards only rent review at the end of the 5th year of the term. The initial rent agreed is £17 per sq ft.
Gavin Black & Partners is joint agent with Avison Young advising Taras and Cushman and Wakefield acted for Hive. Chris Pearson says: “Hive is an exciting prospect for the city centre having just secured £1.2m investment in a round led by SME finance provider Maven Capital Partners. We understand this will support further growth of the business.”