Member Article

Hive of activity at Broadacre

Hive, the employee feedback platform, has leased a 4,378 sq ft suite on part of the fourth floor of Taras Properties’ Broadacre House, Newcastle upon Tyne. Hive has agreed a full repairing and insuring lease for a term of 10 years subject to an upwards only rent review at the end of the 5th year of the term. The initial rent agreed is £17 per sq ft.

Gavin Black & Partners is joint agent with Avison Young advising Taras and Cushman and Wakefield acted for Hive. Chris Pearson says: “Hive is an exciting prospect for the city centre having just secured £1.2m investment in a round led by SME finance provider Maven Capital Partners. We understand this will support further growth of the business.”

This latest letting follows phased, contemporary-style, refurbishment with the 5th floor now available offering 2,500 sq ft to 7,322 sq ft with other space potentially available. Common parts are currently being upgraded which includes new shower facilities. Broadacre House also offers basement car parking.

Greg Davison, Partner, Cushman & Wakefield who advised Hive comments “the space that Taras has created at Broadacre House is perfectly aligned to the culture Hive HR is looking to create within it’s business and supports its growth plans through attracting and retaining a dynamic workforce. The right office environment serves a critical role in achieving those ambitions”

John Ryder, Hive’s CEO added “We’re very excited about the next chapter of growth at Hive. We needed to match our growth ambitions by finding a new home that we could expand into and be proud of. Equally so, it’s important that we’re able to stay within Newcastle city centre because we’ve worked hard to nurture an amazing company culture at Hive. We feel that a central location will play a huge part in helping us to not only maintain that culture but to attract the best talent within the region”

This was posted in Bdaily's Members' News section by Chris Dobson .