West One Newcastle

News - 10/01/2020

Hat trick of lettings sees occupancy rate reach 90% at Newcastle office building

Our Office Advisory team in Newcastle has secured a hat trick of lettings at West One, Newcastle upon Tyne.

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The 50,000 sq ft office building was purchased by Pioneer Real Estate and Pears Property in April 2019 and has since attracted a range of new occupiers. 

People Asset Management and The North East Fund have taken space on the ground and fifth floor respectively and National Energy Action has also expanded within the building.

The three transactions were all concluded at the end of 2019 marking an extremely positive end to the year for the new owners. The building’s occupancy rate is now at 90% with two remaining suites available to let.

Michael Downey, Associate Director of Office Advisory in our Newcastle office, commented:

“The new owners of West One adopted a pro-active stance following their purchase. The vacant 5th floor was split into four smaller suites which resulted in welcoming new occupiers to the building. With further improvement works planned for the building, we anticipate the remaining two 3,000 suites will attract a strong level of interest going into 2020.”

Elliot Burkeman of Pioneer Real Estate commented:

“We are pleased to welcome these occupiers to the building and these lettings demonstrate that West One continues to be well placed to accommodate those occupiers seeking good quality space with car parking at a competitive price point.”

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