One of Newcastle’s landmark buildings has welcomed two new tenants following deals secured by the region’s newest commercial property consultancy.
The office agency team at PAI member Naylors Gavin Black LLP concluded the duo of lettings at The Pearl, a comprehensively refurbished city centre office building on New Bridge Street, which is now almost fully occupied.
Multinational human resource consulting firm Randstad has moved into the eight storey building, alongside Alere, part of a global medical and healthcare firm based in the USA, leaving only a small number of suites available for prospective tenants.
Chris Pearson, partner at Naylors Gavin Black LLP, said: “It is fantastic to be able to welcome two more occupiers to The Pearl which continues to prove popular with firms looking for a high standard of office accommodation in the city centre.
“With strong interest in the whole of the sixth floor of this innovative development, there is now only one second floor suite of 1,000 sq ft available, along with the fourth floor, so occupiers actively looking to relocate should act quickly to avoid disappointment.”
Randstand, which has agreed a 10-year lease for a 3,456 sq ft seventh floor suite, and Alere, whose new second floor base will be used for medical assessments, will benefit from open-plan, air-conditioned office space with gold-rated superfast broadband, high-efficiency lighting and panoramic views.
Stephen Bradley, director of asset management at Hermes Fund Managers Limited, which manages The Pearl, said: “Our £3m refurbishment of this iconic property has created an airy and modern working environment that suits a broad range of occupiers, including Barton Wilmore, Maersk and Shared Interest Society.
“Since The Pearl was launched to market, we’ve seen strong occupier demand for high quality, cost effective and well-equipped office space in Newcastle city centre that has contributed to our ongoing success.
“We’ve no doubt that both Naylors Gavin Black, and joint letting agent Knight Frank, will receive a good number of enquiries from interested parties for the property’s remaining space.”
The final available suites at The Pearl are being marketed at a rent of £17.50 per sq ft.