Summary
WHEREAS Tyneside has seen a strong level of out-of-town office take-up over recent years - primarily at Cobalt Park, Quorum, Newcastle Great Park, Newburn Riverside, Watermark, Team Valley and Jarrow - the future could prove to be famine or feast as a result of the current economic climate, Government legislation and funding issues.
Analysis of transactions on out-of-town business parks across the region over the last 12 months show a total take-up of the order of 270,000sq ft. The largest lettings were at Quorum, North Tyneside, to Balfour Beatty and at Spectrum, Seaham, to Durham County Council.See the full content of this document
Extract
Looks Uncertain, Say North East Experts
Government legislation in the form of empty property rates and the inability of developers to secure funding...
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