Upgrade completes at No 2 St James Gate
Knight Frank has project managed the renovation of 23,500 sq ft into grade A office space at the 82,000 sq ft, eight-storey building in Newcastle, releasing more premium stock into a constrained market.
Delivered on behalf of landlord Palace Capital, the 16-week programme focused on the sixth floor, which has views across the city, and two office suites on the ground floor.
Located close to Newcastle Central Station, the newly refurbished offices range from 3,400 sq ft to 23,500 sq ft and come with all-electric VRF air-con, LED lighting, and an enhanced ‘B’ EPC rating, up from the previous ‘D’ ranking.
Other occupiers in the building include tech firm Softcat, insurance firm Somerset Bridge, and public body the Big Lottery Fund.
Naylors and Knight Frank are jointly marketing the new offices for let, alongside Unit 3C, a 6,480 sq. ft. self-contained space at No. 3 St James Gate which is available for sale.
Head of property at Palace Capital plc, Daniel Davies, said: “We’re committed to continually investing in decarbonisation to ensure No. 2 St James Gate delivers best-in-class offices with high energy efficiency and lower operating costs for occupiers.”
Head of Knight Frank’s Newcastle office, Ian Tew, added: “Newcastle has a very constrained pipeline of high-end offices and the completion of the upgrade works at No. 2 St James Gate delivers much-needed grade A stock to the market.”
