Legal & General and Landid have secured RSA Insurance as a tenant at the first of their Riverside Sunderland office developments, with the insurer set to relocate its customer services team from Doxford International Business Park.
RSA has agreed a 38,000 sq ft prelet at “Faber”, the first of two office developments at the location. The lease spans 15 years.
L&G has invested £100m in the office schemes, which are slated to open in 2024. Landid is the developer.
The second building is known as “Maker”. Combined, the two schemes will provide 150,000 sq ft of grade-A office space. Knight Frank is the letting agent.
The developments are part of a strategy led by Sunderland City Council, which aims to deliver more than 1m sq ft of office space across the Riverside Sunderland development, creating workspaces for up to 10,000 people.
David Wilkinson, site leader at RSA in Sunderland, said: “Throughout the business we operate a hybrid working model and consider high-quality, modern office space to be a key component of this.
“We are looking forward to working with the developers and talking to our colleagues in Sunderland to ensure this new space offers a workplace that works effectively for them and us.”
Mike Coplowe of L&G said: “This prelet is hugely significant and further demonstrates confidence in the office market in Sunderland. Riverside Sunderland is a development that will trigger the economic resurgence of the city centre, and we’re pleased to be playing a part in that.”
Peter McIntyre, executive director of city development at Sunderland City Council, said: “As businesses compete to attract and retain the brightest talent, the quality of workspace they can offer – and the lifestyle offer surrounding that workspace – is absolutely paramount, and that’s why Riverside Sunderland is important. It allows us to compete with other places, and both secure and attract businesses to choose Sunderland.
“Our vision for Riverside Sunderland and the city centre is clear – more offices and homes in the heart of the city will bring people who will spend their money and support the economy in the area.”
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