Tech startup secures ‘exceptional’ workspace

A Newcastle-based tech startup that has enjoyed “phenomenal growth” is expanding its operations with a move into one of the city’s premier office developments.

Neptune North has signed a lease for 10,000sq ft on the eighth floor of Bank House on Pilgrim Street, with plans to complete a high-specification fitout by May. 

Bosses at the financial services-focused firm say they expect to house over 100 employees by the end of the year and that the “first-class working environment” at Bank House will be a major draw for “talented individuals from inside and outside the region”, as they look to recruit software developers and data engineers.

Founded in 2024 as a joint venture between Rokos Capital Management and Oliver Wyman, Neptune North has rapidly outgrown its initial space at Bank House. 

James Beard, chief executive at Neptune North, said: “As we continue to recruit high-calibre individuals from across the UK and overseas, it is vital that we provide a workplace of exceptional standard. 

“We operate five days a week in the office and have already made nearly 50 appointments.  

“Bank House is the leading office building in Newcastle which is an important component in the overall offer as we bring onboard talented individuals from inside and outside the region.”

Workplace design specialist ADT Workplace, which recently undertook a similar project at Bank House for law firm Knights, is leading the fitout, creating an open-plan environment with breakout areas and a fully fitted kitchen.

Tony Wordsworth of Avison Young, joint letting agent with Knight Frank, added: “It is very rare for a startup business to grow so swiftly to require 10,000sq ft of premium office space within the first year of its inception.

“For us to be able to accommodate Neptune North’s phenomenal growth every step of the way here at Bank House is fantastic. 

“The firm is creating a first-class working environment and new employment opportunities of a very high standard.”

The 207-foot-high Bank House, designed by Ryder Architecture and built by Bowmer + Kirkland, is expected to become home to more than 1,000 workers when it is fully occupied.

Since launching in May 2023, it has already reached 75 per cent occupancy, with other tenants including Cundall, DAC Beachcroft, Lycetts and Barclays.

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