Catella APAM has completed a flurry of lettings and lease renewals totalling approximately 95,000 sq ft across its UK office and retail portfolios.
The largest transaction sees global built environment consultancy Arup sign a 15-year lease for circa 20,000 sq ft across the fourth and fifth floors of Citygate One in Newcastle. The letting follows the completion of a full refurbishment of the scheme by Vantage, Catella APAM’s decarbonisation partner and principal contractor.
In Glasgow, Catella has completed two new lettings of circa 12,000 sq ft and 2,000 sq ft to public sector bodies at Optima (pictured), taking the asset to full occupancy.
Across the firm’s retail portfolio, Catella has completed new lettings and renewals at Chantry Place in Norwich, Mander Centre in Wolverhampton and The Maltings in Salisbury totalling circa 17,500 sq ft. The new lettings and renewals have generated more than £2.6m in annual rent for the business.
Victoria Morgan, director at Catella APAM, said: “What makes this run of deals particularly pleasing is that most of them didn’t happen passively. At Citygate One, a full floor-by-floor refurbishment opened the door to Arup. At Optima, we reconfigured ground floor space to create a new Cat A suite and a shared business lounge – and now the building is fully let. That’s what active asset management looks like in practice: understanding what occupiers need, positioning assets to meet local demand and building the kind of relationships that mean you can move quickly to deliver complex deals that work for all parties.”
