The Quadrant office building at Newburn Riverside has undergone a six-figure refurbishment two years after it was acquired by Kames Capital.
The property was the first office to be developed on the business park by UK Land Estates in 2003 and was subsequently let to DEFRA.
Nearly 15 years on, and the property which is already home to SMS Market Research and Barratt Homes, has undergone an extensive revamp in a bid to attract new tenants to the vacant suites.
The Quadrant forms part of an office and industrial portfolio at Newburn Riverside and is one of a number of regional strategic property acquisitions by Kames Capital. In recent years, the London-based investment management business has also acquired Blaydon Trade Park as well as Nexus House and Norfolk House in Newcastle city centre.
Commenting on the project, Ric Tsang, assistant fund manager at Kames Capital said: “We have invested over £300,000 in the first and second floors of The Quadrant including the installation of air conditioning and LED lighting as well as a full internal redecoration.”
“One wing of the building offers a range of individual office suites ideally suited for smaller businesses, which now benefit from a brand new shared kitchen facility and informal breakout space.”
With the refurbishment works at The Quadrant now complete, commercial property specialists Naylors and GVA have relaunched the building with a total of 21,000 sq.ft available and rents starting at £12/sq.ft.
James Fletcher of Naylors said: “Over the past 15 years, office specifications have advanced considerably, bringing numerous benefits to occupiers and their staff. It is fantastic news that Kames Capital have made this investment in The Quadrant and we anticipate a good response from the occupier market.”
Tony Wordsworth, director at joint agents GVA added: ‘The flexibility of the two vacant floors will enable us to accommodate requirements of between 320 and 21,000 sq.ft. from companies looking for good access to the A1, A69 and in close proximity to Newcastle city centre.
“Newburn Riverside is a well-established business park and has a great deal to offer in the form of staff amenities and access to public transport facilities.”