Sunderland’s brand-new Maker & Faber office buildings – which have just completed - deliver 156,938 sq. ft. of new commercial property and are two of only four new-build office schemes completing and available to let this year, across UK regional cities.
The other developments include Birmingham’s 3 Chamberlain Square and 3 Circle Square in Manchester.
According to Knight Frank data, only 350,000 sq. ft. of newly built office space is on the market, outside of London. This is half the amount released in 2024 (723,724 sq. ft.) and 44% down on 2023 in an already constrained office market.
Partner at Knight Frank, Patrick Matheson, says demand for Grade A offices continues to outstrip supply as businesses prioritise ESG credentials, amenity and location and he believes Sunderland is well placed to take advantage of this:
“It’s a very exciting time for the city - the completion of Maker & Faber on the hugely ambitious Riverside Sunderland development couldn’t have been better timed. We’ve seen from the success of The Beam – a 60,000sq ft office - in Sunderland that new offices with modern specifications are in high demand. Occupiers increasingly want high-quality, ESG-compliant assets in prime regional locations.
“The exceptional specification, sustainability credentials and amenities at Maker & Faber mean you could be anywhere in the UK – these buildings compete with the very best on offer in Newcastle, Leeds, Manchester and Birmingham.
“Real estate can directly support business objectives by providing spaces that attract top talent and support employee well-being and retention. The ‘flight to quality’ continues across UK cities and securing the right real estate remains challenging in this market.”
Riverside Sunderland is a city-council led regeneration project that has attracted more than £600m of investment, to create a world-class mixed-use development that is transforming the city centre with major new commercial, leisure, public sector and residential developments.
Maker & Faber, funded by Legal & General, working with development manager Landid, overlook the Wearmouth Bridge and the River Wear and offer EPC A, BREEAM Excellent office accommodation in one of the UK's most cost-effective locations.
Patrick continues: “As businesses focus on upgrading their office spaces, many are utilising their lease events to vacate good quality buildings for even better-quality space. Companies including Virgin, O2, and Siemens are shifting from out-of-town locations to city centre offices to benefit from greater connectivity, higher quality amenities, and closer proximity to talent.”
James Silver, managing director at Landid, the company managing the development of Maker & Faber, adds: “Maker & Faber are two stunning new buildings that provide grade A office space in the heart of one of the UK’s fastest-changing cities. Sunderland is undergoing transformation at a rate not seen in decades, and these new offices are playing a part in that, with plans to create 1m sq. ft. of commercial property across the Riverside Sunderland site.
“This is one of the most exciting cities in the UK right now, with a clear vision that is delivering high quality places to work, but also to live and play too.”