Orega flexes into Newcastle with Palace Capital deal

Orega has signed a deal to create 22,500 sq ft of flex space at Palace Capital’s No 2 St James Gate in Newcastle. Under the long-term management agreement, Orega will take the second and third floors of the seven-storey, 82,500 sq ft building. The space will open in the autumn, following a comprehensive refurbishment The agreement marks Orega’s debut in Newcastle. Orega real estate director Ben Hutchen said: “No 2 St James Gate has been refurbished into a contemporary and stylish building, to create modern, sustainable, grade-A office space in a growing and vibrant city. There has been growing demand for high-quality flex space in Newcastle to service the changing needs of its local businesses and we are committed to doing more in the city.” Daniel Davies, head of asset management at Palace Capital, said: “We are excited to be in partnership with industry specialist Orega to produce this amenity-led, best in class flex office space, which we believe will be extremely popular with businesses in Newcastle.” To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews