Orega has signed a management agreement with Palace Capital for 22,500 sq ft of flexible workspace at No 2 St James’ Gate in Newcastle.
The space is capable of accommodating around 400 workstations on the second and third floors of the seven-storey, 82,500 sq ft building. The site, which is Orega’s first in Newcastle, will be comprehensively refurbished over the summer and it will open in the autumn.
Ben Hutchen, real estate director at Orega, said: “No 2 St James Gate has been refurbished into a contemporary and stylish building, to create modern sustainable Grade A office space in a growing and vibrant city. There has been growing demand for high quality flex space in Newcastle to service the changing needs of its local businesses and we are committed to doing more in the city.
“We believe we will attract much interest from businesses who are increasingly looking for a flexible way to occupy property but also require high quality ‘state of the art’ space, a trend showing no sign of slowing down across all cities of the UK.”
Daniel Davies, head of asset management at Palace Capital, added: “We are excited to be in partnership with industry specialists Orega to produce this amenity-led, best in class flex office space, which we believe will be extremely popular with businesses in Newcastle.”
