Top price hope for quirky offices

Jul 2 2008 by Graeme King, The Journal

THE team behind the regeneration of the Cooper’s Auction Mart building in Newcastle is aiming to achieve the city’s top office rents when the scheme is complete.

The late-Victorian red-brick structure on Westgate Road has been vacant for eight years since car hire company Hertz abandoned it.

It was originally built as a horse and carriage repository in 1897 for businessman James Cooper, providing a ‘multi-storey horse park for wealthy customers catching a train from Central Station’.

UK Land Estates was planning to demolish the building and replace it with a new seven-storey office block, but that scheme was withdrawn after objections from English Heritage when remains of Hadrian’s Wall were found beneath the building.

Now developer the Hanro Group has acquired the listed structure and has just started work on renewing the historic interior and transforming it into Grade A office accommodation with a ‘Very Good’ BREEAM rating for its environmental efficiency.

Architect Ryder has drawn up a scheme to make the best use of the 16,000sqft of space available, with building work set to be complete by Christmas.

The 13m-high atrium in the centre of the building will be retained, with roof lights providing natural light throughout that part of the structure.

At the darker, front end of the building facing Westgate Road, floor-to-roof windows will be installed to replace existing brick sections of the facade.

Features from the original building, such as ramps, horse tethering rings, the first-floor ladies’ gallery and second-floor cycle test route have been preserved.

The offices will be on three floors, with 5,619sqft on the ground floor, 4,962sqft on the first, and 5,715sqft on the second floor.

The building is being jointly marketed by GVA Lamb & Edge and DTZ.

Tony Hordon of DTZ in Newcastle, said: “It’s such a unique building so it’s difficult to put a price on. Occupiers will either love it or say, ‘It’s not for me’. I’m hoping we will hit some pretty headline record figures. It’s such a special building.

“If headline rents are now £22, we will hopefully reach that and more.”

Tony Wordsworth, director of GVA Lamb and Edge, said: “The superb attention to detail in every aspect of Cooper’s Studios makes it a genuinely distinctive office scheme of the highest quality. The offices provide an extraordinary package – including cost-effective, competitively priced lettings – which make it remarkably attractive for regional companies who aspire to first-rate locations.”

The offices’ design will incorporate energy-efficient lighting, air conditioning systems and insulation wherever possible throughout the Grade II-listed building.

Steve Baxter of the Hanro Group said: “Cooper’s Studios brings a breath of fresh air to the Newcastle office market. Features such as the roof lights, atrium, contemporary design and carefully preserved original features provide a unique development.

“It could potentially sub-divide but being candid, it’s fabulous space as one. My guess is it will be a trendy company looking for a quite dramatic and modern image.

“Our preference would be to let it, but we would consider a sale.”