Member Article

Eldon Insurance goes for growth

Eldon Insurance, the Newcastle upon Tyne-based market leading insurance claims business, has taken over 21,000 sq ft of office space at No 2 St James Gate, Newcastle, the largest city centre letting so far this year.

Melanie Bebbington, Claims Operations Director, Eldon Insurance says the new premises doubles current working space over two floors to help accommodate growth and enhance facilities for staff.

“The south western gateway to the city is a perfect location to improve our profile and we are in excellent company with other service providers such as Baker Tilly, Watson Burton and the Big Lottery Fund. Our fit-out has commenced and demonstrates our belief that good quality working space is essential to retain, and attract, staff and encourage productive output.

“This is an incredibly exciting development for Eldon after spending 10 years in Cale Cross House. We believe that Newcastle is an excellent place to thrive as a business and the increase in working space provides space for our planned growth during 2017 and beyond.”

Patrick Matheson, partner, Office Agency at Knight Frank, who negotiated the deal and is joint adviser to the landlord McAleer & Rushe together with BNP Paribas Real Estate and Sanderson Weatherall, confirms the letting was based on a 10 year lease and completes the occupation of the entire 82,500 sq ft building.

“Naturally the take-up of over 21,000 sq ft of Grade A office space further exacerbates the supply of Grade A office space in the city centre. For developers bringing forward new space in the next year, their timing could be very good indeed,” says Mr Matheson.

Stephen Davey, Development Manager at McAleer and Rushe commented: “We are very pleased to welcome Eldon Insurance to St James Gate. This letting completes the occupation at the building and adds a strong local company to an already impressive tenant line up.”

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