Insurance company signs deal for new city building
The first of two new office developments in Riverside Sunderland has secured its first occupier - ahead of the start of construction.
RSA Insurance, one of the UK’s largest general insurers, has signed a deal to relocate its customer services team to ‘Faber’ - the first of two new sustainable offices on the site.
The insurer will take a lease on 38,000 sq ft of office space in the heart of the city centre - relocating from its current premises in Doxford International Business Park.
David Wilkinson, site leader at RSA in Sunderland, said: “We are delighted
to have signed the lease for our new office.
"We’ve been operating in the region for many years and are looking forward to continuing
to have a presence here.
"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 to ensure this new space offers a workplace that works effectively for them and us.”
Faber, along with a second and larger building, Maker, is being developed as part of a £100m project by Legal & General and are due to open in 2024.
Mike Coplowe at Legal & General said: “We’re thrilled to have signed a deal with RSA, making them the first occupier of our two new buildings at Riverside Sunderland.
"This pre-let 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.”
The developments are part of a Sunderland City Council-led vision to deliver more than a million square feet of office space across the Riverside Sunderland development, creating workspaces for up to 10,000 people.
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 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.”