Developer shows confidence in top end office market

Jul 9 2008 by Graeme King, The Journal

A DEVELOPER from Tynedale is showing confidence in the North East office market by starting work on a new phase of the Beaufront Park scheme in Hexham at a cost of £2.5m.

Property Design Matters, a property development business and architectural consultancy, has begun construction of its development on the eastern outskirts of the town.

The development will provide 25,000sqft of office accommodation, with 4,000sqft of that being Hexham’s first fully-serviced offices.

The rest of the space will be made available to let or for sale.

The £2.5m development is being financed by HSBC Bank and will meet all the latest government specifications for energy efficiency, with completion due in Spring 2009.

Beaufront Park is located next to the A69 and a few minutes’ walk from Hexham railway station.

The new low-rise building will also feature extensive car parking.

Gordon Currie, chairman of Property Design Matters Ltd, said: “There’ll be nothing else quite like it in the Tyne Valley. Phase 2 will provide Hexham’s first purpose-built fully serviced high-quality office space. Tenants will be able to rent everything, including telephones, desks, and reception services, in units ranging from 100 to 500 square feet.

“All the units can be fitted out to meet the individual specifications of the end user.”

Despite the current upheavals in the property market, Mr Currie said he believes demand for the space will be high.

He said: “As well as providing fully-serviced rental options, part of the development will also be offered to let or for sale. High quality commercial property can still form a tax-efficient part of a property or pension portfolio.”

The innovative octagonal design of phase one at Beaufront Park was conceived to make maximum use of natural light and will be continued in the southern elevation of the new phase two development.

The building is intended to complement phase one, completed in 2005, which provides over 10,000 square feet of office space.

Tenants there include Milecastle Housing, Tynedale’s social housing provider; Northumbrian Larder, the regional food and drink group and recycling brokerage Borders Recycling.

Hexham has seen a substantial amount of development in recent months, though mainly on the retail side of the town, including a recent decision to allow the Co-op to build new units on the car park of its former store, which is now owned by Marks & Spencer.

Next to the railway station, Rokeby Developments has acquired a 4.25 acre site and is planning a mixed use development on the land.

Rokeby is believed to be looking at a scheme with retail, offices and employment uses.