Newcastle Quayside office hosts new tenants following “comprehensive” refurbishment

Newcastle based property business Adderstone Group announced that Lambert Smith Hampton (LSH) will move into its Grade A office space, St Ann’s Quay on Newcastle’s Quayside.

LSH is one of the UK and Ireland’s leading property consultancies with 32 offices and over 1,000 staff. It has serviced clients from across the region and provided support to other offices throughout the UK from its Grey Street Office since 2015.

Adderstone Group acquired St Ann’s Quay, a mixed-use freehold comprising 32,000 sq ft office space, from an Irish investment trust in June 2021. The 10-storey building is the tallest structure on Newcastle’s Quayside and was originally developed by Robertson Group as part of the Tyne and Wear Development Corporation’s Quayside regeneration.

Following a “comprehensive refurbishment”, the office suites and their terraces to the lowest three floors now offer Grade A space with panoramic views of the Quayside. Other occupants include Knight Frank, Qubic Tax Limited and The Crown Prosecution Service (CPS).

Ian Baggett, founder CEO of Adderstone Group, said: “In terms of demand for office space in the North East, we are seeing a clear bifurcation. We have never known such strong demand for well-located, quality, energy-efficient space with access to open air.

“Outdated, inefficient stock increasingly faces obsolescence. This is a good thing for the region and the market in general. We are delighted to have secured such a prestigious firm as our latest tenant at St Ann’s Quay.”

Richard Wilson, head of office at Lambert Smith Hampton, added: “With the expiry of our Grey Street lease, we decided we wanted more than just an office, so our search was for somewhere our staff could be productive, creative and happy. We looked closely at our needs, recognising how our working lives have evolved over 2020 and 2021.

“Having fine-tuned exactly what we wanted, we found the perfect space in Adderstone’s St Ann’s Quay. We are working closely with Adderstone on a gutsy, cool Cat A fit-out and the entire team at LSH is so excited about spending our working days with one of the best backdrops of any office in the UK”.