HREIML to launch office building The Pearl in Newcastle
The Pearl, an eight-storey, 37,798 square foot remodelled office building on New Bridge Street West in the Newcastle city centre, will be launched at the end of January.
After a 10 month refurbishment carried out by Brims Construction in a substantial contract on behalf of Hermes Real Estate Investment Management Limited (HREIML), a completely remodelled building has been delivered to provide open plan office accommodation.
Tim Evans, partner in charge of Knight Frank, joint agent with Gavin Black & Partners, says Hermes Real Estate has brought to the market an outstanding improvement to a landmark building.
“The Pearl rises above the city centre in impressive fashion. Hermes is to be congratulated on its vision and Stuart Palmer, Studio-SP, who designed the extensive fit-out, deserves an accolade for his gifted approach to delivering such outstanding space,” says Evans.
At The Pearl there is an emphasis on quality of specification which includes VRF air conditioning, high efficiency lighting, new double glazed windows with solar control to south and west elevations and a new office entrance and reception area.
Chris Pearson, partner, Gavin Black & Partners, says the timing of bringing The Pearl to the market could not be better. “We have just seen office take-up in the region reach a five-year high with the largest category of lettings being below 5,000 sq ft. With a severe shortage of Grade A space as a result of the uplift in letting activity, The Pearl is the only opportunity to acquire an entire building though we anticipate considerable interest in taking space on a floor by floor basis.”
The Pearl offers five floors of just over 3,500 sq ft each, one floor of 2,560 sq ft and an impressive concept, a 17,591 sq ft floor, TheForum@ThePearl, designed specifically to accommodate smaller businesses in cellular offices opening onto internal break-out space for use by all occupiers.
Ian Cody, director – asset management, HREIML, says: “This has given us a tremendous opportunity to create a rejuvenated city centre icon that will deliver exceptional new offices for entrepreneurial businesses needing flexibility as well as presence.”
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