Q3 2026 — North East
Office Market Update
INTEL
DATA
FORECAST
0191 649 8924
44,000 SQ FT LETTING AT ONE TRINITY GARDENS, NEWCASTLE, TO CONFIDENTIAL TENANT AT UNDISCLOSED RENT
7,266 SQ FT LETTING AT WELLBAR CENTRAL, NEWCASTLE TO LICHFIELDS AT £30.00 PSF
Total Take Up (sq ft), by Quarter
Other Key Deals
01
One Trinity Gardens, Newcastle - 4,036 sq ft letting to FRP Advisory at £27.00 psf
02
Cobalt One, North Tyneside - 10,516 sq ft letting to MCT Training at £14.00 psf
03
Faber, Sunderland - 55,167 sq ft letting to DWP at confidential rent
Q3 2026 Summary
North East Take Up
City Centre:72,878 sq ft
*Q3 2025: 97,913 sq ft
Out of Town:135,485 sq ft
*Q3 2025: 106,545 sq ft
Average Deal Size
City Centre:5,606 sq ft sq ft
*Q3 2025: 6,119 sq ft
Out of Town:5,018 sq ft sq ft
*Q3 2025: 3,436 sq ft
Number of Deals
City Centre:12
*Q3 2025: 16
Out of Town:27
*Q3 2025: 31
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
8.5%
Office Agents
This report is published by Parker Knights Limited for general information only and not to be relied upon in any way.
