Newspaper article The Journal (Newcastle, England)

Plenty of Demand in Office Sector in 2003

Newspaper article The Journal (Newcastle, England)

Plenty of Demand in Office Sector in 2003

Article excerpt

2003 has been a busy year with strong demand across all sectors, says Chris Pearson, director in charge of Chesterton International's Newcastle office.

The office sector has been notable by the activity of the professionals with solicitors Sinton & Co and accountants, Baker Tilley, being two good examples of professional companies committing to space.

Whilst activity in 2002 was primarily focused on lettings to Government agencies including Trillium DWP, Immigration Appeals, DETR, Defra, One NorthEast and Government Office, I believe we shall see more Government enquiries coming through in 2004/05.

In the meantime Newcastle has to cope with an extremely low level of new space which has plummeted to just 4,000 sq ft.

The market has everything going for it with more enquiries about for brand new space approaching pounds 19.50 per sq ft.

However, with just 4,000 sq ft of new space available enquiries will focus their attention on refurbishments such as Cuthbert House at All Saints. …

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