A seven-figure commitment will deliver more than 20,000 sq ft of new premium workspace into Newcastle city centre as part of planned refurbishment works.
The No. 2 St James Gate office investment is being led by Palace Capital, which has appointed Knight Frank to oversee a substantial development programme at the eight-storey building close to Newcastle Central Station. The property provides a total of 82,000 sq ft of space.
A 16-week programme of works is due to commence this month. The project will focus on refurbishing the sixth floor, which offers panoramic views across the city, as well as two office suites on the ground floor.
As part of the No. 2 St James Gate office investment, the works will include the installation of sustainable, all-electric VRF air conditioning. A refreshed, contemporary design will feature exposed ceiling services and LED intelligent lighting. These upgrades are intended to improve both energy efficiency and occupier comfort, while achieving a ‘B’ EPC rating.
Following completion, the refurbished offices will range in size from 3,412 sq ft to 23,516 sq ft. The new accommodation is scheduled to be available to let in Spring 2026.
Naylors Gavin Black and Knight Frank have been appointed as joint agents to market the refurbished space at No. 2 St James Gate. They are also jointly marketing unit 3C, a 6,480 sq ft self-contained office at No. 3 St James Gate.
Daniel Davies, head of property at Palace Capital plc, said: “We’re committed to continually investing in decarbonisation to ensure No. 2 St James Gate delivers best-in-class offices with high energy efficiency and lower operating costs for occupiers.”
Ian Tew, head of Knight Frank’s Newcastle office, said: “Newcastle has a very constrained pipeline of high-end offices and the upgrade works at No. 2 St James Gate will deliver much-needed Grade A stock to the market.”
The No. 2 St James Gate office investment reflects ongoing efforts to modernise city centre office stock and respond to demand for high-quality, energy-efficient workplaces in Newcastle.
