Sunderland’s flagship office development The Beam is close to full occupancy after a third tenant signed up to the new building.
Hebburn tech firm Asset55, which provides software and supporting consultancy to the global oil and gas market, has signed a 10-year lease to take 11,000sqft of space on the first floor of the building, the only new Grade A office to open in a North East city centre last year.
Asset55 will also create 30 new jobs as it continues to grow, and fit-out of the firm’s new office is currently under way, with a move in to the space expected to come in April.
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The deal to move into The Beam was brokered by site agent Knight Frank and comes after the firm, which works with the majority of the top 20 global oil and gas operators, announced it has been awarded £4m in new contracts.
The firm has won the deals with three of the world’s biggest oil and gas operators, covering the projects globally, with footprints in China, Indonesia, Dubai, North America and the North Sea.
David Frame, CEO of Asset55, said: “We operate all over the world and I’m delighted to say we’ll be doing so from our new headquarters here in Sunderland.
“We’ve taken close to 11,000 sq ft in The Beam to support our growth and provide the strongest base for our team. We spent a long time looking across the entire North East for our new HQ and The Beam stood head and shoulders above all else. The environment and design is perfect for a company of our kind and the plans that Sunderland City Council have for the site as a whole were a major bonus.
“It was obvious to me from the outset that Sunderland City Council understood our needs and ambitions, and I’m delighted they were so keen to bring us into the city.”
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Asset55 follows online grocery business Ocado and growing training and health and safety business Penshaw View into The Beam.
The building completed less than a year ago and has been hailed as the flagship that attracted the attention of Legal & General, which confirmed in November that it will be investing £100m in Riverside Sunderland, the former Vaux brewery site.
Sunderland Council leader Graeme Miller said: “We knew that The Beam was a hotly-anticipated addition to the region’s property market, and the success it has seen really does vindicate the council’s decision to invest in it, to stimulate regeneration that would transform the riverside area.
“Sunderland is delighted to welcome Asset55 to its vibrant business community, and we look forward to supporting the company as it continues on its upward trajectory in the city.”
The Beam’s latest tenant puts the centre on course to house 400 business people.
Construction of the new City Hall is now under way on the Riverside Sunderland site, which will soon be the base of more than 2,000 office-based workers.