Newcastle’s Earl Grey House to undergo £600K upgrade

Earl Grey House on the city’s Grey Street will undergo a £600,000 upgrade of its ground floor to create a high-end business lounge and breakout space.

Knight Frank’s building consultancy team has been appointed by landlord Schroders plc to project manage the refurbishment.

Ian Tew, head of office at Knight Frank Newcastle, said: “We know the market very well and have been working closely with Schroders to identify what needs to be done to ensure that the value of their asset is maximised for now, and the future.A computer generated image of the refurbishment (Image: Supplied)

“The upgrade meets the evolving needs of office occupiers who are increasingly looking for inspiring, contemporary spaces that promote the wellbeing of their teams.”

The six-storey, 58,000 sq ft Grade II listed building will be upgraded to include boardrooms, meeting rooms, a coffee bar, and luxury informal lounge areas.

Design North is leading on interior design, with Ben Johnson delivering the fit-out.

Earl Grey House is the first building in Newcastle to achieve a 1* FitWel Certification, reflecting its high standards in sustainability and occupier wellness.

The building previously set a new benchmark for office rents in the city, rising from £18 per sq ft to £21 per sq ft following its 2018 revamp.

Current rents now exceed £26 per sq ft, with just two suites of around 2,000 sq ft available.

Knight Frank’s office agency team, alongside joint agent Parker Knights, has let 90 per cent of the building to tenants including Ryder Geotechnical, Epic Games, Arctic Wolf, Everyman Cinema, and Explain Research.

The offices also feature showers, changing facilities, and an indoor cycle store.

Henry Trimmer, asset manager at Schroders, said: “Our continued investment in Earl Grey House will ensure that it aligns with changing occupier expectations and creates an environment that assists businesses with staff attraction and retention.”