Member Article

Knight Frank – No 1 Office agent

Knight Frank has been crowned Newcastle’s number 1 Office Agent in Estate Gazette’s Newcastle League Table following a busy 12 months, ending in July.

“We are delighted to have been so successful,” says Patrick Matheson, partner, Office Agency, Knight Frank. “We have had a busy year of letting and acquisition activity.”

During the year Knight Frank, acting on behalf of landlord McAleer & Rushe, achieved the largest letting in the City with Eldon Insurance taking 21,000 sq. ft. at No. 2 St James Gate. Knight Frank also disposed of the new Live Works development on the Quayside in its entirety to growing tech firm ZeroLight in a 15,000 sq. ft. transaction.

Deal volumes and numbers were up on the preceding 12 months, meaning the city centre market has returned to the level enjoyed prior to a more subdued 2015/16.

“Demand is still coming from a variety of sectors but the tech sector in particular is becoming one of our keys sectors in Newcastle”, says Mr Matheson. “Over the past year we have been increasingly active in transactions involving tech companies, both letting space on behalf of landlords, but also acting on behalf of several tech companies looking to acquire space.”

Rebecca Maddison, associate in Office Agency at Knight Frank, adds: “This is certainly an exciting time for Newcastle as one of the UK’s hotbeds for tech start-ups, however we are now starting to see companies moving out of incubation space into “follow on” space within Newcastle and the wider North East region, something that Knight Frank is actively involved with”.

“The lack of new city centre stock is still major challenge in the short term, but there are some really exciting refurbishment schemes coming forward such as 2 Collingwood Street, Earl Grey House and Barclays House, both on Grey Street, all offering both the style of space and environment which is responding to the changing way we are using offices.”

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