National Council for Further Education (NCFE) has taken 11,143 sq ft (1,035 sq m) at Hanro’s 156,000 sq ft (13,192 sq m) Citygate scheme, near St James’s Park, Newcastle.
NCFE is paying £17.50 per sq ft (£188 per sq m) on a 15-year lease – equalling the record Newcastle rent recently paid by Eversheds at Central Square South.
The NCFE deal follows Ernst & Young’s prelet of 26,000 sq ft (2,415 sq m) prelet at Citygate. The scheme is set to complete in four months.
Phase one of the £20m development comprises 66,000 sq ft (6,131 sq ft) of offices, plus 57 one- and two-bed Bellway apartments. DTZ is the agent on the scheme.
EGi News 30/10/01
