Vacancies within the office sector have fallen by 30% between 2021 and 2022 as a result of high demand in Sunderland according to the world leader in commercial real estate information, Co Star.
Bradley Hall has noted that demand has been particularly high for office premises across Sunderland, providing a strong and positive forecast for Sunderland’s commercial property market for 2023. The firm noted that between January 2022 and January 2023 the Sunderland office received a 50% increase in office enquiries, further suggesting a positive forecast for the year ahead.
Bradley Hall’s Sunderland commercial team has seen high demand across a range of commercial opportunities which have resulted in the sale of Hallgate House, a prominent office space in the heart of Sunderland, as well as the letting of sought-after office space in the impressive Grade II listed Commissioners Building.
Helen Wall, senior surveyor at Bradley Hall said: “Due to the ambitious plans of Sunderland City Council, Sunderland is an area benefitting from an extensive regeneration programme and is receiving unprecedented investment to support further economic growth, as well as to create over 20,000 jobs. As a result of this cash injection, businesses that would typically look to acquire premises in larger cities such as Newcastle or Leeds, are coming to Sunderland at this time of great change for the city.
“Over 200,000 square foot of office space has been recently delivered throughout the Sunderland area, and with additional plans for over 150,000 square foot to be completed by 2024, office demand in Sunderland is certainly high.”
Bradley Hall has recently sold Hallgate House to Forever Care, a care operator who provide care solutions for children, young people, and adults across the North East of England and often further afield if required. The company has decided to make Hallgate House their new home, due to already having their main office base in Sunderland.
Bradley Hall’s Sunderland operation has also agreed a heightened number of lettings in recent months, including the letting of one unit at the impressive Grade II Listed recently converted Commissioners Building in the heart of Sunderland.
The Commissioner’s Building comprises a grandiose recently refurbished office building arranged over basement, ground, first and second floors. The accommodation comprises of furnished office suites ranging in sizes, with a range of additional facilities including access to a modern kitchen, several meeting rooms, and the Commissioners Chamber which is an extremely impressive board room, suitable for hosting events and larger client meetings.
The 140sq ft unit that has been recently let to Tobbell Engineering Solutions in the Commissioner’s Building is the perfect space for the project management firm to grow their small business.
“With a great deal of demand for office space across Sunderland such as The Commissioner’s Building and the recently redeveloped ‘The Yard’ attracting a great deal of attention, commercial office space appears to be more in demand than it has been for a while in Sunderland” added Helen.
