Newcastle’s Bank House filling up as Cundall ‘comes home’

Cundall has taken the 10th floor of Taras Properties’ Bank House in Newcastle. The engineering firm has signed a lease for 10,155 sq ft. According to market sources, asking rents in the office building are around £30 per sq ft. The company describes moving to the block on Pilgrim Street as “coming home” as it was involved in the redevelopment of the office. The scheme was developed by Taras Properties – owned by real estate entrepreneur brothers David and Simon Reuben – which owns the site, and Bowmer and Kirkland. More than 120 of Cundall’s staff will be based in its new headquarters, which will be one of its 26 global offices. The deal follows six other lettings at Bank House signed with DAC Beachcroft, Lycetts, Oliver Wyman, Barclays, CUBO and Knights, bringing occupancy levels at the 12-storey building to more than 60%. The 100,000 sq ft building, which launched in summer last year, features flexible floorplates with a reception and breakout area on the ground floor. Jim Allen, partner and Newcastle office lead at Cundall, said: “As the design engineers for Bank House, we know this building very well. Signing up to this space, with its views of Newcastle’s iconic Tyne Bridge, gives us a sense of coming home.” Tony Wordsworth, director at Avison Young, which is joint letting agent for the property alongside Knight Frank, added: “Cundall’s longstanding involvement in the vision for Bank House culminated in the team making it their base, particularly because we know how crucial sustainability standards are to the business.” Barker Proudlove acted for Cundall. See more office lettings in Newcastle >> Image © Ryder Architecture