Developers turn their attention to the Quays

Nov 28 2007 by Graeme King, The Journal

THE city of Newcastle continues to prosper and as a result there is pressure to increase the commercial property offering to accommodate its growth.

Development in the city centre and on the Quayside has been rife in the last decade and, as the remaining major sites come to fruition, we are now seeing limited opportunities for expansion in these traditional city cores.

Developers are therefore turning their attentions to the Baltic Quays area of Gateshead, an area which holds huge potential and which will play a fundamental part in the continued fusion of commercial communities on both banks of the river.

In the office sector, we are exceptionally fortunate to have a unique opportunity in the stunning environment of the Tyne Gorge – more than 50 acres of brownfield, but prime urban land which has provided the vehicle for the development of a £300m scheme at Baltic Business Quarter, by Terrace Hill.

Representing a brand new urban office quarter with all the space and flexibility of a significant office park close to the heart of the conurbation, this will undoubtedly attract a great deal of further inward investment.

This momentum has encouraged a great deal of success for the Baltic Business Quarter to date with the arrival of various prestigious occupiers.

It has long been the aim of Gateshead Council to attract a major academic institution to its shores and the regeneration of Gateshead Quays has now encouraged these bodies to take notice.

With both the construction of the 160,000sqft Gateshead College almost complete and due to open its doors in 2008, as well as the Open University recently taking 19,500sqft of office space at Chalk Hill Place for its regional headquarters, the council's aspirations are now being fulfilled.

Terrace Hill is continuing its work to transform the remaining unused land into a busy commercial community and has now started on site with the speculative development of Baltimore House, a 24,500sqft office block.

This will go some way to satisfying the demand for quality office space.

When complete, Baltic Business Quarter will offer a self contained environment based around a series of linked urban spaces, wide boulevards and avenues of trees.

It's only a short walk across the Gateshead Millennium Bridge to other amenities and services at East Quayside and the development is served by the new Quaylink bus which, running every 10 minutes, connects Baltic Business Quarter with central station, the Metro system, Haymarket and Gateshead Interchange.

Baltic Quays has taken the lead to provide the perfect business environment away from the over-stretched Newcastle city centre and is providing a viable solution to Newcastle Gateshead's growth strategy. When plans for the space have been fulfilled, the site will undoubtedly bolster the national and international profile of the area, whilst providing much needed commercial accommodation to meet demand.

John Haley is an associate director of office agency at Sanderson Weatherall in Newcastle.