The Pearl mixed-use landmark building in Newcastle’s Northumberland Street has achieved six office lettings with two more lettings ‘under offer’ or in solicitors’ hands.
“Given the office market has been subdued so far this year the take-up performance at The Pearl is nothing short of remarkable,” says Chris Pearson, partner, Gavin Black & Partners, joint letting agent with Knight Frank.
“It puts the spotlight on quality of space and access to public transport in the light of the current Air Quality Public Consultation exercise,” adds Mr Pearson. “The Pearl is exceptional with Gold Rating Wired Score, M247 broadband offer as well as car parking, bike rack, storage and showers and a new break out area.”
The lettings are to Oliver Wyman, McGregor Black, Peter Millican Law, R2 Commerce and Hyperspheric Solutions and Keda Consulting. In total 6561 sq ft have been let with a further 3966 sq ft about to complete. Asking rents are £17.50 per sq ft for smaller offices and £16 per sq ft for office suites in The Pearl’s tower.
Paddy Matheson, partner, Knight Frank says that occupiers are increasingly seeking space that complements their corporate image. “The Pearl has been significantly upgraded to offer some very smart space at the centre of the city,” says Mr Matheson.