Member Article

East Newcastle lettings

East Newcastle lettings

A change of use on a prominent business park in East Newcastle has prompted an increase in lettings.

The Benfield Business Park, Walkergate, which comprises a mix of studio offices, workshops and industrial space, was recently acquired by a London-based investor and through a change to bring in leisure to balance light industrial uses two lettings have completed.

Mark Proudlock, partner, industrial agency, Knight Frank, reports letting a 5,000 sq ft units one to Model Health and a 10,000 sq ft unit to The Newcastle Fencing and Sports Trust, a permanent and fully accessible fencing venue for Newcastle.

“Benfield is very accessible not only for drivers benefiting from the Coast Road/Benfield Road connections but for residents in the immediate area,” says Mr. Proudlock. “A number of units will now be refurbished for launch later this spring. The change of use has helped prompt the letting activity which also includes KNW, an existing occupier to expand on site from 14,000 sq ft of accommodation to over 20,000 sq ft. The business park has a diverse mix of tenants and is proving particularly attractive to companies providing training or leisure-related services.”

Also in east Newcastle Crossling Properties has let the 13,287 sq ft unit 2 on the Industry Road Industrial Estate, to Park Electricals, trade suppliers.

Mark Proudlock, who also advised the landlord, says the estate provides retail and trade counter sales with other tenants including Topps Tiles and Crossling. “The unit taken by Park has been refurbished which underlines the benefit of investing in properties to make them more marketable,” says Mr. Proudlock. The headline rent was £40,000 per annum.

ENDS

This was posted in Bdaily's Members' News section by Knight Frank .