A global engineering firm that was involved in the creation of one of Newcastle’s most high-spec new offices is set to occupy one floor of the building in a move which it describes as “coming home”.
Multi-disciplinary consultancy Cundall, which carried out design engineering for Bank House on Pilgrim Street, has signed a lease on the tenth floor of the building which will soon become the firm’s new head office. The deal follows six other lettings at Bank House, which launched last summer, bringing occupancy levels at the 12-storey building to over 60 per cent.
Jim Allen, partner and Newcastle office lead at Cundall explained: “We are very proud as a North East-founded business to have been involved in this scheme all the way from demolition of the previous building, that housed the Bank of England, right through the design, construction, and eventual completion of Bank House one year ago.
“So, not only is it entirely fitting that our head office remains in Newcastle, but as the multi-disciplinary design engineers for Bank House we know this building very well. Signing up to this incredible space, with its amazing views of Newcastle’s iconic Tyne Bridge, gives us a sense of coming home.”
More than 10 per cent of Cundall’s 1,200 staff will be based within its new 10,155 sq.ft headquarters at Bank House, which will make up one of its 26 global offices. The firm, which operates using a hybrid working model in which staff are office-based three days each week, feels the flexibility of Bank House means it can increase its future headcount without requiring any additional space.
Jim, whose organisation is aiming for all its projects to achieve net zero by 2030, continued: “Not only does Bank House have a great city centre location within the state-of-the-art development currently taking place in and around Pilgrim Street, but it is one of the premium offices that the region has to offer.
“Sustainability runs through everything we do as a practice, so it was only right to ensure that Cundall’s head office is in a building that reflects that commitment.”
As the first phase of a £100m-plus regeneration project currently transforming the city centre, Bank House offers Grade A office accommodation with flexible floor plates, and its efficiency and environmental credentials are rated as ‘excellent’ using the Building Research Establishment Environmental Assessment Methodology benchmark (BREEAM).
The ground floor features a 4,500 sq. ft. reception and informal breakout area, providing easy access to the city’s retail and leisure amenities while tenants of the upper floors can enjoy 360-degree views across the Tyne and nearby Quayside.
Jim said: “In nearly 50 years of business, it is fair to say Cundall has grown! We feel that our Bank House address will serve as a fantastic flagship location and help us achieve even more global growth.”
Tony Wordsworth, director at Avison Young, which acts as joint letting agent for the property alongside Knight Frank, added: “It is fantastic to see Cundall’s longstanding involvement in the vision for Bank House culminate in the team making it their base, particularly because we know how crucial sustainability standards are to the business.
“It’s also fantastic that with this, the building is now over 60 per cent let, and I am pleased to say that there is strong interest in a large volume of the remaining available space.”
In the six previous lettings to take place at Bank House, deals were agreed with DAC Beachcroft, Lycetts, Oliver Wyman, Barclays, CUBO and Knights.
Property consultancy Barker Proudlove acted on behalf of Cundall.
