Terrace Hill Lets 100,000 sq.ft at Baltic Business Quarter, Gateshead

Energy giant npower has taken more than 100,000 sq ft of office space at Terrace Hill's £300 million Baltic Business Quarter by the River Tyne in Gateshead.

Npower are leasing 110, 000 sq ft in three office buildings, with an option on a further 80,000 sq ft, at £17 per sq ft the building will be capable of accommodating over 900 people.

Work on the offices buildings, which are situated to the west of the site, will begin in the autumn, ready for occupation before the end of next year.

Already the Open University has bought a 19,500 sq ft office building at Terrace Hill’s Baltic Business Quarter. The building is called Chalk Hill Place and will be ready for occupation this summer. At the same time Terrace Hill are building a speculative 24,000 sq ft office block called Baltimore House at the Baltic Business Quarter, which will also be ready this summer. Terrace Hill, who are in partnership with Gateshead Council, believes Baltimore House will attract a good deal of interest and will satisfy the pent-up demand for much-needed quality office space in Newcastle and Gateshead.

Meanwhile the 160,000 sq ft Gateshead College opened in January this year, welcoming 15,000 students. The agents for the development are the Newcastle office of Sanderson Weatherall and DTZ.

For further information, please contact Martin Vickerman of Terrace Hill.