Q1 2026 — North East
Office Market Update
INTEL
DATA
FORECAST
0191 649 8924
7,309 SQ FT LETTING AT 1 ST JAMES GATE, NEWCASTLE TO ORIGIN TECH AT £22.50 PSF
3,318 SQ FT LETTING AT BALTIC WORKS, GATESHEAD TO GALLAGHER AT £18.00 PSF
Total Take Up (sq ft), by Quarter
Other Key Deals
01
1 Trinity Gardens, Newcastle — 4,494 sq ft letting to Saltus Financial Planning at £25.00 psf
02
1 Trinity Gardens, Newcastle — 3,973 sq ft letting to Assystem at £25.00 psf
03
Great North House, Darlington — 9,459 sq ft sale to Clive Owen SIPP at £910,000
Q1 2026 Summary
North East Take Up
City Centre:43,364 sq ft
*Q1 2025: 253,722 sq ft
Out of Town:57,445 sq ft
*Q1 2025: 83,473 sq ft
Average Deal Size
City Centre:3,613 sq ft
*Q1 2025: 14,924 sq ft
Out of Town:2,735 sq ft
*Q1 2025: 3,478 sq ft
Number of Deals
City Centre:12
*Q1 2025: 17
Out of Town:21
*Q1 2025: 19
Availability (000 sq ft)
Prime Headline Rent (£ psf)
North East Under Construction
96,357 sq ft
Following the completion of Bank House and the successful 173,245 sq ft pre-let of 1 Pilgrim Place to DWP, 2 Pilgrim Place is now on site and due to complete by 2027, providing a further 96,357 sq ft of Grade A office space.
Elsewhere in the North East, Landid have built 153,000 sq ft of high specification city centre office space at Sunderland Riverside, known as ‘Maker & Faber’.
2026 Forecast
£35.00 psf
Prime Office Yield
9.5%
Office Agents
This report is published by Parker Knights Limited for general information only and not to be relied upon in any way.
