The combined Newcastle city centre and out-of-town markets recorded a total take-up of 266,582 sq ft in the third quarter of 2015, compared with a similar figure of 266,660 sq ft in the same period of 2014.
The average deal size across both markets for Q3 2015 was 7,015 sq ft – an increase of 13% compared to the average figure for Q3 2014.
At 107,819 sq ft, the city centre witnessed its strongest quarterly take-up over the last two years. This was underpinned by three significant lettings – 15,155 sq ft to Orchard Systems at Central Square, the sale of Block B at Kings Manor to Adderstone, and the letting at Haymarket Hub of 17,000 sq ft to Ubisoft.
Activity in Newcastle’s out-of-town market remained broadly in line with Q3 2014, with a take-up figure of 158,763 sq ft.
With several major requirements due to be satisfied in Q4 2015, Newcastle's combined city centre and out-of-town markets remain on track to exceed the 800,000 sq ft transacted in 2014.