Pattinson acquires Wallsend office

The estate agency group has acquired a 5,800 sq ft building on the Silverlink business park in North Tyneside to expand its headquarters.

The move comes on the back of the purchase of three North East estate agencies this year, which has taken Pattinson’s branch total up to 30.

The new property – 10/11 Silverlink – is situated next door to the firm’s existing head office.

Commercial property consultancy Naylors Gavin Black brokered the deal on behalf of the seller, a private pension fund.

Pattinson has purchased the 5,799 sq ft property to accommodate the additional staff it has recruited following the growth of the company, including its national auction arm Pattinson Auction.

The company has seen an uptick in auction transactions after appointing additional partner agents around the UK.

Pattinson will occupy the vacant ground floor and continue to let the 2,857 sq ft first floor to existing tenant Gameplan Financial.

Launched in 1977, Pattinson Group has grown to employ more than 400 people working across residential and commercial property, sales and lettings, auction, conveyancing, property management, IT/tech and financial services.

Group managing director Justin Beckwith said: “We have had a record-breaking year so far and are continuing that upward trajectory due to the current high demand for property. People are becoming increasingly aware of the benefits of selling through auction and we now have a network of over 3,700 partner estate agents throughout the UK.

“This additional office will allow us to support the growth of not only our auction facility, but of the whole agency by giving us space to expand further.”

Partner at Naylors Gavin Black Chris Pearson said: “It’s great to see a North East business doing so incredibly well. The property they have purchased is fitted out to a high standard and in a great location so should be a sound investment.”