News article

Office development Baltic Place - Gateshead Quays' newest landmark - has signed its first major tenant and is in final legal stages with another two less than a month since it marked its practical completion.

North of England P&I has taken a short-term lease for floors one to four in the Western tower of the development, totalling 26,5000 square feet to house its 200 staff.

North of England P&I was established in Newcastle in 1860, and has regional offices in Hong Kong, Piraeus and Singapore. It is a leading marine liability insurer; offering protection and indemnity insurance to ship owners.

Baltic Place sits perfectly alongside the Baltic Centre for Contemporary Art, The Sage and the Mellinum Bridge at the Newcastle Gateshead quayside.

South Shore Developments, a joint venture partnership between Robertson Property and City and Northern, is in the final legal terms with another two firms that will take the development to 30 percent already.

The two building development, which is located on South Shore Road next door to the Baltic Centre for Contemporary Art, is the only building of its size to have completed in Newcastle/Gateshead this year.

The agents behind the scheme are the Newcastle offices of agents DTZ and GVA Grimley and London agent Jones Lang LaSalle.

Baltic Place, which has achieved a BREEAM ‘Excellent' rating for its green credentials, was designed by Newcastle architectural firm Space Group.

Robertson Property development manager Stuart Hopley said: "We are delighted to be nearing thirty percent let before we even officially launch the development this week, which is fantastic in the current economic climate.

"NEPIA is a significant lease and the fit out is well underway for them to take occupation in November."

Agent Tony Wordsworth from GVA Grimley said: "The whole letting team are delighted to have let almost a third of the development so quickly. The interest has been significant as Baltic Place offers high quality, flexible office accommodation in suites from 3,000 sq ft up to a remaining 90,000 sq ft. The first tenant committed so quickly demonstrates the appeal of the building and the competitive deals we can offer."

Baltic Place will hold its official launch on Thursday 17th September, with a ‘hottest property in town' themed event for business and property professionals with fire acts and Caribbean style music from the North Tyneside Steel Band.

For more information go to balticplace.com