Newspaper article The Journal (Newcastle, England)

IoD Has Options for Key City Hub

Newspaper article The Journal (Newcastle, England)

IoD Has Options for Key City Hub

Article excerpt

Byline: By Nigel Stirling

Property company Stonemartin has drawn up a shortlist of buildings for the one of largest ever requirements for office space in Newcastle City Centre.

The Journal can reveal two developments ( Hanro's pounds 70m mixed use scheme next to St James's Park and Silverlink's larger plans for the area behind Newcastle Central Station ( are on the short-list for the requirement which was launched two years ago.

Chris Peacock, managing director of London-based Stonemartin, yesterday confirmed both developments "satisfied" the company's requirements for a building which will be employed as an Institute of Directors' "regional hub" with a conference centre, meeting rooms and offices for members.

But he raised the possibility of a third development being in the running for the 100, 000sq ft prime city centre office requirement.

He said: "If there was a building that satisfied our requirements already built we would have bought it last week. But after looking for two years, it is a certainty that we will be looking at new development. At the moment we are looking at two or three situations in Newcastle that satisfy our requirements."

Stonemartin acquires and develops buildings on behalf of the Institute of Directors. The buildings, which are generally in city centre locations close to transport links, include office space, conferencing facilities and provide IT and secretarial services to IoD members, and are managed by Stonemartin.

The IoD, which currently has no premises in the North-East and operates from a Post Office Box address despite a membership of more than 700 in the region, has similar hubs in London's Pall Mall, Belfast, Birmingham, Bristol, Edinburgh, Manchester, Nottingham and Reading. Regional hubs in Cardiff and Leeds are in the pipeline.

Silverlink's scheme satisfies Stonemartin's space requirement but for months has been navigating a minefield with city planners and English Heritage over its plans for the pounds 120m development, which include the refurbishment of the historic sheds in which George Stephenson built his Rocket locomotive. …

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