The out-of-town office market is a well-recognised driver for growth on Teesside and Wearside.

THOUGH it has long been argued that Sunderland needs a city centre office core, the take-up of space on an out-of-town basis was very impressive whilst the Enterprise Zone existed, say Paul Nicholson and Aidan Baker of BNP Paribas Real Estate.

Doxford International Business Park was among the region’s first wave of major out-of-town office developments and the success of this Enterprise Zone-driven former Akeler development took the market a little by surprise.

Most recently the disposal of 220,000 sq ft at Rainton Bridge to npower, again demonstrated that quality space with good road access and car parking will attract occupiers to Sunderland. As the region’s largest city and one of the most competitive business locations in the UK it has a number of development proposals being brought forward by Sunderland Arc through its 15-year regeneration plan such as mixed-use schemes at Sunniside, Holmeside, Farringdon Row and the high-profile Vaux site.

If an office element is proposed it will be many years before it comes to fruition.

So the search for space is very much restricted.

Edge of the centre and therefore arguably out-of-town is an office development formerly occupied by MFI which has just come to the market.

This modern, two-storey purpose-built building was used as a call centre with a capacity to take 325 people.

Wayfarer Point is for sale or to let and offers 10,992 sq ft to 22,416 sq ft. Built just seven years ago it has an excellent office specification including suspended ceilings, recessed lighting, raised access floors and full air conditioning.

Importantly, too, it has 151 car parking spaces on site which means it has car park spaces at a generous ratio of one space per 150 sq ft.

This will be an excellent test for the market and we expect a good deal of interest in this property.

Asking rent is £12.50 per sq ft and the freehold is also available.

This offers a chance for businesses to secure prestigious, sustainable office space up to 21st-Century standards in a location that offers excellent access to the A19.

The rentals levels required make this a far cheaper location than Newcastle making the occupational cost offer for Sunderland very attractive.

Paul Nicholson and Aidan Baker are office specialists at BNP Paribas Real Estate’s Newcastle office.

Page two: Ongoing investment in out-of-town office space.