Interest has been ramping up for the first building of the £100m development transforming Newcastle city centre.
The marketing of Bank House has officially launched this week, as the scheme on Pilgrim Street moves into the final stages of construction with nine months left until completion.
Billionaire real estate entrepreneurs Reuben Brothers are behind the huge project to build the landmark 14-storey office block on the site of the demolished Bank of England building, the inaugural structure to take shape in the extensive regeneration masterplan.
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Joint letting agents Avison Young and Knight Frank have released new CGIs of the building, produced by scheme architect Ryder, as interest from prospective occupiers steps up ahead of the spring 2023 opening date.
Currently under construction at the southern end of Pilgrim Street,it will provide 120,000 sq ft of Grade A offices across 12 floors.
The ground floor will comprise a striking 4,500 sq ft reception area, with informal breakout space and a café with easy access to nearby shops, restaurants and leisure amenities for the hundreds of workers who will be based at Bank House from 2023.
Occupiers of the upper floor areas will have 360-degree views across Tyneside, including different aspects of the Tyne Bridge, river and Quayside quarter.
Tony Wordsworth, director at Avison Young, said: “Bank House will offer market-leading office accommodation for businesses looking to invest in our region as well as North East occupiers keen to invest in their workplace. Given its scale and build quality, it will be a significant addition to the city’s office market, at a time when organisations are reviewing how their workplaces support their objectives.
“We are seeing a lot of interest from occupiers attracted by the building’s prominence, unique outlook and energy efficiency credentials. There is a real war for talent in many sectors, particularly in professional services, and the workplace has a huge part to play.”
Last summer Taras Properties – the development vehicle set up on behalf of the Reuben Brothers – secured planning permission for two further office buildings totalling 275,000 sq ft which will be developed directly adjacent to Bank House to complete Pilgrim Place, the southern phase of the Pilgrim Street masterplan.
Patrick Matheson, partner at Knight Frank, added: “Bank House will fall within the top 10% of UK new non-domestic buildings in regard to its sustainability.
“There will be 80 secure bicycle spaces, cycle maintenance station, charging points for electric bikes, showers and changing facilities. Together with the accessibility to public transport - Manors, Monument and Central Station metro stations are all close by – Bank House will go a long way in helping employers recruit and retain talented people as well as attracting staff back into the workplace post pandemic.”
Within the wider scheme, Taras Properties has confirmed plans for the refurbishment of the Grade II listed Worswick Chambers to accommodate a new food and beverage hub, whilst at the former fire station, also Grade II listed, works will commence this year on a hotel conversion scheme.
At the northern end of Pilgrim Street, demolition works are under way to make way for the construction of Pilgrim’s Quarter, a new 463,000 sq ft office facility for HMRC.
