BNP Paribas Real Estate, acting on behalf of Metnor Trafalgar Street Limited, has seen the last three remaining suites at Generator Studios in Newcastle being let, resulting in the 42,400 sq ft building being fully occupied.
In July 2017, Allay not only committed to a further five year lease of 8,900 sq ft they already occupied but also took an additional 3,950 sq ft of accommodation. Allay guides and assists consumers through the complex process of claiming refunds for mis-sold PPI policies.
Alongside Allay, Atlas Cloud, which delivers and manages virtual IT solutions, has entered into a new 10-year lease of Studio 2.7, extending to 2,636 sq ft. This follows the recent expansion of hedgehog lab, which now occupies 7,500 sq ft and Edward Robertson and Fuse Telecom, which also took further space in June and March of this year respectively.
Other tenants in the building include: Black & White Engineering, Foster Findlay Associates, Gardiner Richardson, Gem Partnership, LogicNow, and QuantuMDx.
Aidan Baker, director at BNP Paribas Real Estate said: “In the current economic climate it is very satisfying to not only to agree three new leases, but also to see companies growing within the award-winning Generator Studios, illustrating the flexibility of the accommodation on offer. Since its conception, we have seen exceptional interest in this excellent, well-located studio accommodation.”
Jamie Mableson investment director at Metnor commented: “These lettings take the space at Generator to an occupancy level of 100%. When we developed this space we were always confident that it would attract good quality occupiers.”
Steven Bell of Allay said: “The business has grown to become the third largest claims processing business in the UK and Generator, with its range of studio sizes, has accommodated this growth.The recent announcement of the PPI deadline for claims has allowed the company to focus on this and the diversifying into other markets. The new space acquired continues to highlight our commitment to the building and allows other parts of our business such as, our airFair flight compensation business, to develop further.”
Pete Watson of Atlas Cloud also commented: “Generator was an ideal new base for its operation. The new work space will allow the company to grow in the North East region. An inspiring working environment is important to our staff and our clients as well as being close to the thriving city centre and all its amenities.”
Sanderson Weatherall are joint agents with BNP Paribas Real Estate and advised Metnor Trafalgar Street Limited; Real Time Claims and Atlas Cloud were unrepresented.
