Npower had agreed to lease the space in three buildings with an option to expand to an additional 80,000 square feet at a rate of £17 ($24.40) per square foot. Tenants so far at Baltic Business Quarter are a 160,000-square-foot building occupied by Gateshead College and a 19,500-square-foot with Open University as its tenant.

"Our original strategy for the Baltic Business Quarter remains firmly in place and we continue to see ongoing good levels of interest from local, national and international occupiers," says Phillip Leech, chief executive of locally based Terrace Hill, in a statement.

Meanwhile, Terrance Hill had better luck with two other developments. It got approval government approval for two retail developments anchored by grocery Sainsbury's, one in Bishop Auckland and one in Helston.