Lycetts heading to Bank House after 60 years on Dean Street

Lycetts is relocating its UK headquarters to the first phase of Newcastle’s Pilgrim Place after exchanging contracts on 10,000 sq. ft of new office space.

Lycetts has signed a 15-year lease at Bank House, which will see the firm occupy the entire sixth floor of the 14-storey building when construction completes in April 2023.

Lycetts is moving from Milburn House on Dean Street where it has been based for the past 60 years.

Charles Renwick, Lycetts’ divisional director, said: “The move to this majestic new building will offer us fantastic opportunities to grow our business as we look to the future.

“Newcastle is a prime location for Lycetts to be based and the company is immensely proud of its North East heritage. There was never any question of us leaving the city, but there has been a need to accommodate expansion and modern working practices. The open plan environment of Bank House will open the door to greater collaborative working.”

Designed by Ryder Architecture, Bank House incorporates a range of features to help reduce CO2 emissions during the building’s lifecycle. The specification includes the use of air sour heat pumps and sustainable technologies to help reduce and monitor energy consumption. The building will also offer 10 charging points for e-bikes together with space for the storage of 80 bikes, a bike maintenance station and shower facilities.

Avison Young and Knight Frank are appointed as joint letting agents for Bank House.

Tony Wordsworth, director at Avison Young, said: “Lycetts’ decision to relocate to Bank House after a period of 60 years at Milburn House is fantastic news. I have no doubt that the move will have a very positive impact on their business and I look forward to seeing them take occupation next year.

“There is a very healthy level of interest in the building which is an excellent position to be in with over 6 months to go until practical completion. Demand for best-in-class office space remains strong and Lycetts is a perfect example of a business that recognises the benefits that can come with investing in the right workplace.”

Property consultancy George F White acted on behalf of Lycetts in their acquisition of the 6^th floor of Bank House.