Member Article

Major appointment for Lambert Smith Hampton

Lambert Smith Hampton has been appointed sole agent on Jomast’s £100m + Jesmond Three Sixty mixed-use scheme which will comprise 40,000 sq ft of office space, 300 residential units, a 77,000 sq ft 4/5 star hotel, a mix of retail and leisure facilities and multi-storey car parking.

“We are delighted with this high-profile instruction,” says Michael Downey, Senior Surveyor - Office Advisory, Lambert Smith Hampton. “It is a very significant development for Newcastle’s city centre and important for the city given the scale and visibility of the scheme and the imagination that has been put into bringing it forward.

“The location was better known as Archbold Terrace with a number of developments on site. These are being drawn together as a footprint for the Jomast scheme which has been branded Jesmond Three Sixty to underline its central position. The second phase, TWO Jesmond Three Sixty, a five storey, four floor Grade A office building of nearly 40,000 sq ft is to be brought to the market. We anticipate considerable interest in the office space given the critical supply situation for city centre Grade A offices.

“The building will be contemporary in design and will include an impressive double height reception comprising two new lifts leading to four expansive open plan floor plates. The 5,000 sq ft show suite will be available from spring next year.”

Mr Downey adds: ’’The Newcastle office market is constantly evolving and we are seeing property betterment outweigh cost as a ‘driver’ when tenants relocate. The product on offer at TWO Jesmond Three Sixty will present prime refurbished office space to the market within a mixed use scheme which will enable occupiers to offer their employees an enriched working environment with both a collaborative and community feel“.

Mark Hill, Commercial Property Director at Jomast says: “This is a landmark development in a prime location in Newcastle’s fast moving creative district, with striking architecture, fantastic views and contemporary interior design”.

Jomast, with headquarters in Stockton on Tees, is one of the UK’s leading property development, investment and regeneration specialists with commercial and residential real estate assets in excess of £250 million. Founded in 1971, Jomast has established itself as a pre-eminent force in the UK property market and is now a leading and innovative developer, owner and manager of commercial and residential property.

This was posted in Bdaily's Members' News section by Chris Dobson .