Part of Portland House is grade-two listed. Credit: via Four Walls PR

Wealth manager latest in at Portland House

30 August 2023 14:32 Neil Tague Comments (0)

Raymond James, Monument has agreed a five-year deal at the former headquarters of Newcastle Building Society following its refurbishment.

The deal, for 1,537 sq ft, follows a pair of lettings to Central Employment and barrister Parklane Plowden Chambers, which accounted for a combined 10,000 sq ft.

A third of the 60,000 sq ft complex, part of which is grade two-listed, is now taken.

Agent Parker Knights brokered the deal.

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Part of Raymond James Investment Services, which has been operating in the UK since 2001, Raymond James, Monument plans to develop its bespoke investment services across the North of England and the Scottish Borders from a suite of ground floor offices at Portland House.

The team, led by branch principal Gary Fawcett along with wealth managers James Carrick and Rob Brotherton, is already seeing demand for its range of investment and financial planning services from individuals, families, business owners, trusts and charities, the firm said.

The building was revamped this year. Credit: David Wood

Anthony Scott, head of business development at RJIS, said: “We’re very excited about the launch of Raymond James, Monument based at Portland House. It’s in an excellent, dynamic location, enabling us to support clients and drive further investment and growth across our key northern markets.”

Developers Oliver Holland and James Keegan completed the redevelopment of Portland House earlier this year.

Michael Downey, director at Parker Knights, joint letting agent for Portland House together with BNP Paribas Real Estate and Sanderson Weatherall, said: “With excellent access to the city centre, other professional services and transport links, Portland House is an ideal location for Raymond James to open for business in Newcastle.

“We are seeing a lot of interest from other potential tenants and while we have limited vacant space available with suites ranging from 1,800 to 9,000 sq ft, we fully expect to reach full occupancy by the end of 2023.”