Partner Article

Intrinsic doubles its Newburn office

Intrinsic doubles its Newburn office Intrinsic Financial Services has doubled its office space at Riverside House, Newburn Riverside, Newcastle upon Tyne, by expanding within the building to take ground floor space of 8,076 sq ft in the south wing on a lease until February 2024. Intrinsic already occupied a suite of 8,000 sq ft on the first floor of Riverside House. Paddy Matheson, partner, office agency, Knight Frank, who advised the landlord, UK Land Estates jointly with Naylor’s Chartered Surveyors, says the Faulkner Browns designed building offers superb working space which has attracted other occupiers including the NHS, Onboard Pro and SGP Consulting. “There is just one suite of 1,125 sq ft remaining in the 40,000 sq ft building and there is strong interest in it,” say Mr Matheson. Shirley Simpson, senior lettings surveyor at UK Land Estates, says the success in letting Newburn Riverside underlines the strength of the location. “Not only does the development have exceptional connectivity to the A1 western bypass which is undergoing significant upgrade but the on-site facilities for occupiers such as the children’s nursery and contemporary cafe makes the location attractive to occupiers’ workforces.” Intrinsic was unrepresented in the acquisition. Richard Freeman, CEO, says: “Since Positive Solutions became part of the Intrinsic Financial Services Group in 2013 and we acquired the space at Riverside House, the business has continued to expand. This was an ideal opportunity to take the extra space on the ground floor of the building. It provides continuity for our existing staff and will allow us to push ahead with our ambitious growth plans for the future.” Intrinsic is a leading Network of more than 3,000 financial advisers based throughout the UK, with offices in Swindon, Newcastle and London. Intrinsic was acquired by Old Mutual Wealth in July 2014. ENDS

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