Newcastle 1700 x 920

News - 13/09/2018

Office Advisory team lands major new instruction in Newcastle

Newcastle office appointed as sole agent on an exciting new multi-million pound mixed-use scheme, Jesmond Three Sixty.

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Jomast’s Jesmond Three Sixty development will comprise of 40,000 sq ft office space, 300 residential units, a 4/5 star hotel, a mix of retail and leisure facilities along with a multi storey car parking.

“We are delighted with this high-profile instruction” says Michael Downey, Associate Director - Office Advisory at LSH's Newcastle Office. “It’s a very significant development for the region and important for the city given the scale of the scheme and the imagination that has been put into bringing it forward”.

Previously known as Archbold Terrace, the site north of Jesmond Road already has a number of successful occupiers, which are being drawn together as a footprint for the Jomast scheme.

The development’s name takes its inspiration from the central position and breathtaking views.

“The building will be contemporary in design and will include an impressive double height reception comprising two new lifts leading to four expansive open plan floor plates. The space on offer will benefit from exposed services/brickwork, new VRF air conditioning, architectural suspended LED lighting and fully accessible metal raised floors. The 5,000 sq ft show suite will be available from spring next year” added Downey.

The second phase of the development, TWO Jesmond Three Sixty, is a five storey, four floor Grade A office building comprising of almost 40,000 sq ft. Soon to be brought to market, the team at Lambert Smith Hampton are anticipating considerable interest in the office space given the critical supply situation for city centre Grade A offices.

Mr Downey adds ''The Newcastle office market is constantly evolving and we are seeing property betterment outweigh cost as a 'driver' when tenants relocate. The product on offer at TWO Jesmond Three Sixty will present prime refurbished office space to the market within a mixed use scheme which will enable occupiers to offer their employees an enriched working environment with both a collaborative and community feel”.

Mark Hill, Commercial Property Director at Jomast said "This is a landmark development in a prime location in Newcastle's fast moving creative district, with striking architecture, fantastic views and contemporary interior design”.

Jomast, with headquarters in Stockton on Tees, is one of the UK’s leading property development, investment and regeneration specialists. Founded in 1971, Jomast has established itself as a pre-eminent force in the UK property market and is now a leading and innovative developer, owner and manager of commercial and residential property.

“We look forward to working with Lambert Smith Hampton on this project and to bringing this new phase of the development to market" he added.


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