Newcastle office market update Q2 2018
City centre office take up in the second quarter of 2018 totalled 53,768 sq ft, the strongest quarter in the Newcastle city centre since 2016.
Seven of last quarter's city centre transactions saw businesses moving into Grade A accommodation, further highlighting the occupier trend of relocating from larger Grade B accommodation to more prestigious, and efficient Grade A accommodation.
The out of town figures reflected the strongest quarter since 2013, totalling 200,748 sq ft over 42 transactions. The key deals out of town during Q2 2018 were a freehold sale of 36,993 sq ft at Keel Square, Sunderland to Hays Travel and a leasehold transaction of 30,369 sq ft at Balliol Business Park to Tommee Tippee.
For further information about the market update please contact our North East office agent, Charlotte Marshall on 0191 269 0132.