(Image: Supplied)
Refurbished offices are helping ease a growing shortage of premium workspace in the Tees Valley as new commercial construction stalls.
Property owners across the region are upgrading buildings to create Grade A offices for employers seeking modern, high-quality workplaces.
Westminster House on Teesdale Business Park is the latest refurbished building to come to market.
Richard Wilson, a partner at commercial property specialist Portland Dodds Brown, said: "Teesdale Business Park is undoubtedly the premier business park in the whole of the Tees Valley.
"But the availability of Grade A offices is extremely limited because new developments are simply not happening.
"The response of our clients is to invest."
Westminster House on Teesdale Business Park in Stockton has attracted interest from an international company for half its ground floor before marketing began.
Mr Wilson said he expects the building to prove popular with employers who value a high-quality office environment.
He said: "I am confident that Westminster House will prove equally appealing to employers who recognise that a high-quality working environment not only encourages staff to work from the office, it also helps retain them and that really boosts productivity.
"In addition, Grade A office accommodation helps companies meet their key Environmental, Social and Governance (ESG) targets."
Portland Dodds Brown refurbished Westminster House with Robertson Simpson Ltd, which provided building surveying and project management services.
Mr Wilson said: "This relationship creates seamless collaboration between the different teams, which is hugely beneficial on complex projects."
The upgraded office offers just over 14,300 sq ft, including the entire 8,150 sq ft first floor and 6,153 sq ft across most of the ground floor.
It has an A-rated Energy Performance Certificate, a new HVAC system, ceilings and lighting, plus renovated communal areas including the lobby, toilets and showers.
The site includes ample parking and six electric vehicle charging points.
Footbridges link Teesdale Business Park with Stockton town centre and Northshore, while Thornaby station and the A66 and A19 are nearby.
Around 5,000 people work at the business park, whose major occupiers include Visualsoft, Stockton Borough Council, Johnson Matthey, Ward Hadaway and px.
More than 230,000 sq ft has been leased across the park in the past four years.
Even after Westminster House was completed, only 25,000 sq ft of refurbished Grade A space remained available.
Last year, the owner of nearby Boaz House spent £3.5 million transforming the former Barclaycard offices.
Read more
First steel goes up at new 282,000 sq ft Darlington logistics facility
Eston Precinct reaches significant milestone with external work complete
New bus routes to improve transport links in the North East in £8.6m boost
Nearly 90 per cent of the three-storey building is now let, including 30,000 sq ft occupied by px Group.
Westminster House overlooks the new Stockton Waterfront Park, part of a £36 million regeneration of the town centre and riverside.
Stockton Council’s long-term plans include extending Teesdale Business Park into the adjacent Tees Marshalling Yards, creating a medical school for Teesside University on the vacant basin site and developing a transport interchange at Thornaby station.