Guest blog by Jenny Hartley, Director of Investment, NewcastleGateshead Initiative

As the UK embarks on a new era following Labour’s landmark victory in the General Election, the dynamic city of Newcastle upon Tyne is also poised for transformation.

Located prominently at the northern end of the iconic Tyne Bridge, Bank House is more than just the first phase in the multi-million-pound regeneration of Pilgrim Street. It’s a building that can rub shoulders with the very best new offices anywhere in the UK, representing a unique opportunity for any firm look to invest in our city.

As an agency focused on attracting inward investment, we know that new occupiers are seeking high quality Grade A space with close proximity to transport hubs and access to skilled personnel. Bank House ticks all of those boxes.

We also know that companies want to be part of an ecosystem, which is something we’re very excited to see grow on Pilgrim Street when 9,000 HMRC employees move in as well as the city’s first 5* hotel, and the innovative food and drink offer at the newly refurbished Worswick Chambers.

Bank House provides a working environment of the highest standards, with unrivalled views of the famous Quayside, Newcastle’s neoclassical heritage architecture and the historic Tyne Bridge, which has been the gateway to the city for almost 100 years. However, in our view there is much more than this available to investors that share our ambition for the city’s development.  

What makes Bank House a ‘must-see’ on any of our investor familiarisation visits is its flexibility, which is probably the number one consideration for the high-growth companies we work with, as their needs can change quickly.

In the aftermath of the pandemic, fully serviced co-working space is also an increasingly popular proposition, as companies look for the chance to easily collaborate with other businesses. Big collaborative projects  on game-changing products and services often start from small, informal conversations and chance encounters, so having the ability to be in close contact with other organisations is a major plus point.

Cubo’s co-working space on the top two floors at Bank House means the building can more than meet the need for flexibility and partnership working. A high-quality space with commanding views of the city from all angles, it’s the perfect place for meetings and somewhere for ambitious start-ups and entrepreneurs to network with larger corporates to exchange ideas and create new opportunities.

Furthermore, for those looking to scale up quickly, Bank House offers the rare chance for businesses to quickly establish themselves within Cubo before expanding into one or more of the larger floorplates as their teams grow.

There is currently 50,000 sq. ft available for occupation within floorplates of 10,000 sq. ft and further flexibility can be offered thanks to the ability to split floors into 5,000 sq. ft spaces.

The chance to quickly take up occupation in a building on a flexible arrangement, safe in the knowledge that there is ample space to grow longer term is a very rare commodity, especially in a building of such quality.

Another strength of buildings like Bank House is in the calibre of the companies that occupy them.

There are some truly world-leading professional services firms already based at Bank House, such as insurance and financial services provider Lycetts, law firm DAC Beachcroft, Barclays bank, professional services supplier Knights and strategy advisors, Oliver Wyman.

Having such strong professional services options on the doorstep can make all the difference in helping a city’s new entrants make a strong impact, both commercially and in their newly emerging network.

Standing out as an example of what can be achieved by working in partnership, we look forward to seeing how Pilgrim Street’s regeneration, with Bank House at its core, can become one of the most exciting, dynamic and attractive destinations for business in Newcastle.

For more details about the facilities and vacant office suites that remain at Bank House, which are being marketed by joint letting agents Avison Young and Knight Frank, visit bankhousenewcastle.com