Durham Riverside Renewal
One Milburngate to set new benchmark for office space in Durham City
The developers of one of the North East’s largest mixed-use developments have officially launched their first speculative office building, One Milburngate, to meet the growing demand for high-specification offices in the city.
Situated at the heart of Durham, the Milburngate development, which is now under construction, will deliver much-needed office space to the city to attract new investment and support the creation and retention of more than 400 jobs.
Ready for occupation in the first quarter of 2021, One Milburngate will offer 53,701sq ft of Grade A office space, available in flexible floor plates of up to 10,445 sq ft and suites upwards of 3,948 sq ft.
One Milburngate has been designed by award-winning architects, FaulknerBrowns and will offer occupiers high specification working environments, as well as an exceptional level of digital connectivity through its Wired Certified Gold Status.
One Milburngate forms part of phase one of Milburngate, which is being developed by a joint venture partnership between Arlington Real Estate and the Richardson family, supported by a £120 million forward funding commitment from LaSalle Investment Management.
The offices form part of a living, working, leisure destination on the banks of the River Wear and will feature a mix of premium leisure operators, such as boutique cinema Everyman Cinemas and steak restaurant Miller & Carter, alongside 153 built-to-rent apartments and a 92-bed Premier Inn hotel.
Knight Frank and Cushman & Wakefield are acting on behalf of the developers to let the available office space One Milburngate, which they suggest is a timely solution to meet growing demand in the city.
Patrick Matheson, Partner at Knight Frank, said: “Durham City hasn't had a pipeline of new office developments for a number of years, but we know there is demand in the market from occupiers that understand the city is a viable place to do business.
“One Milburngate creates an opportunity for businesses to establish themselves in the heart of the North East within a premium new destination, which will be a catalyst for other developments in and around Durham City that will help attract more employers to the area.”
Greg Davison, Partner at Cushman and Wakefield added: “One Milburngate will set a new benchmark for office space in Durham one that meets the changing needs of 21st Century business, not only through its design and exceptional infrastructure, but through its location too. Businesses will be able to capitalise on the many benefits associated with locating in Durham City, ranging from its unrivalled transport connectivity and access to a diverse range of skills and talents, most notably from the city’s outstanding university.
“It will provide the opportunity for employers to deliver an excellent work-life balance for their people, with its contemporary riverside environment and premium leisure offering alongside its position within the historic city of Durham.”
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For further information contact Jamie Collis 01325 363436
Durham Riverside Renewal
The development consortium consists of Arlington Real Estate and the Richardson family.
The project includes the regeneration of Freemans Reach and the redevelopment of Milburngate House, which are on adjacent banks of the River Wear in the heart of Durham City.
According to the Sunday Times 2014 ‘Best Places to Live’ listing:
“Durham is a lovely place to live. Beneath its glorious cathedral, you’ll find pretty cobbled streets stuffed with little independent shops and great watering holes, a beautiful river that carves its way through dramatic walls of rock and greenery, and some attractive house stock – along with a thriving buy-to-let market, thanks to all those students. One of the nicest places to live is South Street, which looks directly onto the cathedral and castle, and which inspired Sir Walter Scott. Many of its terraced houses are grade II listed; prices range from £400,000 to more than £1m.”
About Arlington Real Estate
Arlington Real Estate is also delivering another flagship County Durham development, DurhamGate. Located five miles south of Durham City, DurhamGate is on the site of Black & Decker’s former UK headquarters and, at almost 100 acres, it is among the largest regeneration projects in the North East of England
About the Richardson family
The Richardson family is a private, family-owned and operated property business with over half a century of real estate experience in the UK and overseas. Typically working in joint venture, the business has a long history of successful partnerships, having developed over 6 million sq ft of real estate across all sectors. More recently the family has continued to diversify by building an international growth capital portfolio across a range of sectors through a direct and co-investment programme.back to Durham Riverside Renewal