_£110m raft of deals see Knight Frank scoop ‘Most Active Investment Agent’ in North East

Knight Frank handled an impressive 22 investment property deals, worth in excess of £110m. This is the most deals of any agent in the region and represents 1.2m sq ft of space. 

National property publication Estates Gazette has named Knight Frank’s Capital Markets team ‘Most Active Investment Agent’ in the North East region. 

The team, based on Newcastle’s Quayside, is headed-up by partner Dickon Wood and works on behalf of a wide range of clients including pension funds, property companies and private individuals.

The two biggest deals were No 2 St James Gate - a £20m acquisition where Knight Frank acted on behalf of purchaser, Palace Capital Plc; and the £16.15m sale of the Royal Mail Sorting Office in Gateshead where Knight Frank represented landlord BMO Global Asset Management LLP.

The St James Gate transaction saw 99,249 sq ft of multi-let, city centre Grade A office space sold at a net initial yield of 8.25%. The 207,812 sq ft Royal Mail Sorting Office on the Team Valley was sold at a net initial yield of 5.22% and is let to Royal Mail for 13.5 years. 

Dickon Wood, partner at Knight Frank, said: “We continue to see strong flows of global capital into the UK and the North East attracts a proportionate share of this. The North East remains an attractive location to invest in real estate especially due to the discount on yield that we enjoy over other regions, and this looks set to continue.” 

For further information, please contact:

Jill Farmer 07912 079 026

Olwen Morris-Jones, Commercial PR Manager at Knight Frank, +44 (0)20 7861 1744