Commercial Property News

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Thursday, September 11, 2023

LSH help Atkins expand in Newcastle

Atkins, the multinational engineering and design consultancy, is doubling its presence in Newcastle, having acquired an additional 3,271 sq ft within its existing premises at 50 Grey Street.

National Commercial Property Consultancy Lambert Smith Hampton (LSH) successfully agreed the surrender of the existing first floor lease held by Scottish Equitable, one of the UK's leading providers of pensions, protection, investments and annuities. A deal was secured with Atkins for a new five-year lease.

LSH's Newcastle office, also tenants within the same building, renegotiated Atkins' existing lease of the third floor to coincide with the terms of the new lease, taking their total space occupied in the building up to 6,568 sq ft.

50 Grey Street is a Grade II listed building, and provides high quality, open plan office space behind a listed Victorian fašade. Grey Street is at the heart of the historic Grainger Town, the traditional prime core of Newcastle upon Tyne's office market and home to a number of the city's leading professional firms and banks including The Royal Bank of Scotland, Deloitte & Touche and Lloyds TSB.

Ron Walton, an Associate Director at Atkins' Newcastle office, said: "I am delighted that all our teams based in Newcastle can now operate from a single address. 50 Grey Street gives us a strong base which supports our plans for continued growth and even greater success in the region."

Jonathan Cooper, Surveyor within the Agency department at LSH's Newcastle office, added: "Expanding within their existing premises proved an ideal solution for Atkins while also eliminating the associated relocation costs."