Newspaper article The Journal (Newcastle, England)

Innovation and Design Promise a Rosy Future

Newspaper article The Journal (Newcastle, England)

Innovation and Design Promise a Rosy Future

Article excerpt

Byline: By Tim Evans

Newcastle's buoyant commercial property market has had an excellent past three months, with the office sector leading the way.

And while 2004 was a record year, 2005 ( with current demand ( is even better.

With high-quality developments taking place in the city centre, combined with high demand, I envisage rents reaching a record pounds 22 per sq ft by the year-end.

In the city centre, some exciting office schemes are reaching fruition, including the mixed-use development Trinity Gardens which has achieved a significant 60,000sqft pre-let to Newcastle's largest law firm, Dickinson Dees.

Trinity Gardens is creating a whole new prime business quarter at the heart of the Quayside with its vibrant mix of offices, apartments, hotel, multi-storey car park and range of restaurants.

Meanwhile Time Central, the stunning new seven-storey office block in the heart of Newcastle, has been officially launched. The pounds 12m development which will provide much-needed city centre quality pace.

Developers Terrace Hill and Gallowgate Properties are masterminding a flagship 83,000sqft office building in Gallowgate with car parking and a little retail space. The 16-week demolition contract started in May. The finished building will be within a three-minute walk of Eldon Square and St James Metro station and have views to the Tyne Bridge. Construction is due to start imminently and be complete in spring 2007. The specification is to provide air- conditioned, quality offices to ensure Time Central is there with the best in Europe.

There has already been a huge amount of interest in the development. The building can be let by floor or as a whole ( and it can also be bought outright.

Time Central is an integral part of the renaissance of the St James Boulevard area, which has now become the natural extension of Newcastle city centre, following the success of Amec's award-winning Quayside development. …

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