Traynor House 3

News - 21/01/2020

Flurry of Lettings Secured by LSH at Refurbished Office Complex

Strong demand for out of town offices as Peterlee Business Park sees flurry of lettings

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Three occupiers have recently acquired office space at Traynor House in Peterlee.  The refurbished 46,500 sq ft office building at the heart of Traynor Way has attracted three occupiers towards the end of 2019 illustrating that there remains a buoyant level of appetite for out of town business park locations, such as Peterlee.  

Purchased early 2019 the new owner, North East Commercial is pleased to welcome ASTECH Ltd, The North East Learning Trust and QuickRebates / Edgemark Accounting into the building with the trio of tenants acquiring suites of 15,500 sq ft, 7,750 sq ft and 3,000 sq ft respectively.  

Michael Downey of Lambert Smith Hampton (LSH), who acted on behalf of the landlord, commented: 

“Occupiers in search of lower occupational costs have seen the benefit of relocating to Traynor House in Peterlee. The convenient transport links via the A19, availability of on-site amenities and facilities, high specification office space and an unrivalled car parking provision are some of the factors why occupiers have chosen Traynor House for their new office location. There is one floor remaining in the building which is available to let with a quoting rent from £6.00 per sq ft”.  

Andy Rothwell of North East Commercial commented:

“It’s really nice to see that with a detailed refurbishment programme and a pro-active agent in LSH, new life can quickly be brought into a semi abandoned work space. Traynor House has had the heating system, cooling, BMS and lighting upgraded and we have secured three new tenants from different backgrounds who have each carried out a high specification fit out in the building. It’s great to see new life come into the building and wider business park with plans afoot to modernise the infrastructure of the NHS building that book ends our business park. 

“The long-term deals secured with a first class American automotive firm, a local school trust and long established accountants show the great value for money we provide for high class office space. Further plans are afoot in the business park to upgrade overall fencing and security to create a safe community business park for local business needs.”

The new owners of Traynor House acquired the two adjacent office buildings in Q4 2019 to complete the business park with the NHS an existing tenant in the Ground Floor of the end building and the middle standalone building is ready for a full refurbishment. 

The property manager James Roy representing the NHS commented: 

“What a breath of fresh air our new landlord has been, within weeks of ownership they have invested in replacing all lighting to LED and a long needed replacement of the existing boilers currently being installed reducing our utility bills and securing our long term tenancy.”

Currently the business park has 105,000 sq ft of office space, 44,000 sq ft let with 31,000 sq ft currently available to let.


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