Overview
In recent months, Parker Knights has observed a significant increase in demand for self-contained office units in key locations across the North East, including Newcastle Business Park, Team Valley, and Sunderland. These properties are appealing to both owner-occupiers and investors, highlighting a broader shift in commercial property preferences in the post-pandemic landscape. Parker Knights has successfully facilitated several transactions that illustrate this trend, showcasing strong investor interest and a rising desire among businesses to own their office spaces.
Key Transactions
Amethyst Road, Newcastle Business Park:
Parker Knights has completed the sale of self-contained office units on Amethyst Road. Buyers have included private investors and local businesses looking to expand, attracted by the convenience, independence, and long-term value that ownership brings. The business park’s prime riverside location, ample parking, and modern office design have enhanced its appeal.
B6 Marquis Court, Team Valley:
A regional mortgage brokerage firm has purchased this strategically located office space to accommodate their team. By owning their premises, the firm can invest in custom fit-out solutions tailored to their specific needs and operations.
Pickersgill Court, Sunderland:
Parker Knights represented Adderstone Group in the successful sale of 1 Pickersgill Court, a modern, self-contained office located on the Sunderland Riverside within the established Quay West Business Park. This property was sold to an owner-occupier, marking a positive advancement in the continued regeneration of this important commercial area.
Insights and Market Trends
The success of these transactions reflects a noticeable shift in the market:
Owner Occupiers: More businesses are opting to purchase their premises, which allows for customisation, potential capital appreciation, and protection against rising rents.
Investors: Self-contained offices provide stable yields, require minimal management, and have a solid tenant base, making them particularly appealing in regional cities where demand and affordability align.
Post-COVID Dynamics: Hybrid working arrangements have altered the landscape of office needs. Smaller, flexible, standalone units strike an ideal balance between in-office presence and remote work, increasing their desirability.
Conclusion
Parker Knights’ recent sales activities in Newcastle, Team Valley, and Sunderland demonstrate a strong and sustained interest in self-contained office units from a diverse range of buyers. Whether for investment or operational use, these properties are increasingly recognised as strategic assets. As businesses continue to prioritise flexibility, autonomy, and financial control, Parker Knights anticipates that demand in this sector will remain robust.
