Member Article

Palladium Group's first North East development

Jersey-based Palladium Group has acquired an office building at Gateshead’s The Watermark development and is working on a total refit of two of its floors totalling 20,000 sq. ft. to provide state-of-the-art Grade A office accommodation.

The building will be re-branded Honeycomb in line with other current developments by Palladium Group elsewhere in the United Kingdom.

Rebecca Maddison, Associate, Knight Frank, joint agent with Naylors, says it is encouraging to see developers new to the region committing to the development process. “Though the building is comparatively young being developed in the early 2000s, it was in need of significant updating,” says Ms Maddison. “This gives Palladium Group an opportunity to introduce its Honeycomb concept, an exciting vision of outstanding office space.”

Palladium Group’s chairman Spencer Bourne says: “We are delighted with how well our first venture in the North East is progressing. The programme of works at Honeycomb will transform the building into contemporary offices with a broad range of occupier facilities and we are confident that this will be a welcome addition to the regional office scene.”

Honeycomb has Tyne Tees Television occupying the 10,000 sq. ft. ground floor leaving two upper floors each of 10,000 sq. ft. for refurbishment which will deliver suites from 870 sq.ft. The work will be completed by mid-June.

This was posted in Bdaily's Members' News section by Knight Frank .