Member Article

Interview: Mark Black, MD of Sovereign Adavo

Mark Black is as passionate about local business as they come.

MD of Sovereign Adavo, the property development company behind the newest business centres in Tyneside, Mark is currently playing a vital role in boosting North East startups and SMEs as well the region’s economy.

Most recently Mark’s company has regenerated the Town Hall in Wallsend. What was once used as a building for the administration of local government, the building has since been renovated and retrofitted into a state of the art business centre.

While retaining all of its period charm, The Town Hall has been tastefully brought into the 21st Century and transformed into a thriving business hub. Within the Grade II listed building, businesses enjoy 100MB fibre Broadband, free parking and competitive rates fully inclusive of bills and utilities.

In addition to the physical office space available at The Town Hall, businesses have access to virtual office and hot desking facilities, use of the Queen’s Boardroom and Grand Chamber for conferencing and events, as well as The Bureau service offering support with all aspects of administration including note taking during meetings, typing services, filing, call answering and photocopying.

However, whilst the aesthetics and grandeur of the building’s regeneration speaks for itself, Mark’s own story must not go unseen.

From a fanatic love of lego at a young age to immersing himself in property law at university, Mark seems to have always had a taste for building things. Coupled with a ‘fantastic grounding’ growing up as the son of world renowned sports motivational coach Steve Black, Mark has been able to apply both his knowledge and passion into creating the vibrant Wallsend business hub to benefit the local business community.

To date, £1m has been invested into the Wallsend venture. Mark said: “26 out of our 50 office spaces have been taken already. It’s a great return and it seems more businesses are wanting to get involved all of the time.

“This building was originally built with the intention of serving the public, I want that service to remain the same and I’m proud to say that what we’re doing is serving the community and genuinely helping to provide an affordable platform for our businesses to flourish and grow.

“There are some fantastic employment hubs across Newcastle but as a region we need to be doing more, providing more. What we have here is already making a difference to the North East economy.”

In fact, Mark is an entrepreneur who is always looking at the big picture. Certainly his passion for driving North East business growth is to be admired.

“Small businesses are where regional economies are really made. We need to constantly be developing our infrastructure and make the North East a place known for being great at developing local businesses.

“Look at Silicon Valley or Singapore, the infrastructure is there for talent to flourish. We need to revolutionise our culture so that we can help support, say, the next Utilitywise. That’s what I’m really hoping this place can do”, says Mark.

Indeed he may be achieving this already. Cascade Cash Management Ltd, an independent cash management service, is the latest business to move into the building, taking residency at The Town Hall past 50% occupancy in its first 6 months.

In welcoming Cascade Management Ltd to the building, 26 of the 50 available office spaces have now been filled, taking the occupancy of The Town Hall to over 50% in the first six months of opening its doors to businesses across the North East.

Commenting on the success, Mark said: “I’m pleased to welcome Cascade Cash Management Ltd to The Town Hall and I’m sure they’ll soon become a valued part of the community here at our business centre.”

Martin Pearce, business development manager (North East and Scotland) at Cascade Management Ltd, said: “We could not ask for better facilities than those on offer at The Town Hall. From our initial enquiry through to moving into our new office space, the team at Sovereign Adavo has been exceptional, providing us with support every step of the way.

“We’re excited about our future at Cascade Cash Management Ltd and are confident that The Town Hall is the right place us and offers the right facilities to support our continued growth.

“We’re very much looking forward being part of the thriving business community here at The Town Hall and would like to thank Sovereign Adavo for providing North East businesses – like us – with state-of-the-art facilities at an affordable price.”

‘Very lucky’ were the words Mark used when asked how it feels to own The Town Hall. If Wallsend could talk, it would probably say the same about Mark. A proponent of regional businesses who practises what he preaches and loves what he does, Mark Black is a true credit to the North East.