Bank House hits full occupancy milestone

A Newcastle office building has reached full occupancy after securing a major second letting.

Neptune North, a fintech startup, has taken an additional 5000sq ft on level 6 of Bank House on Pilgrim Street, less than three months after moving into level 8. 

The deal sees the landmark development achieve 100 per cent occupancy, with the new space set to be ready in January following an 11-week fitout by ADT Workplace.

Since its completion in 2023, Bank House has attracted tenants including DAC Beachcroft, Lycetts, Barclays, CUBO, Cundall and Knights. 

Tony Wordsworth of Avison Young, joint letting agent at Bank House alongside Knight Frank, said: “We have attracted a host of leading names to the building over the past 24 months and with further development now coming forward at 1 & 2 Pilgrim Place, it is fantastic to complete the letting of Bank House. 

“Neptune North is a phenomenal success story which began here at Bank House only last year, so we are delighted to have been able to work with them to bring the building to 100 per cent occupancy.”

Founded in 2024 as a joint venture between Rokos Capital Management and Oliver Wyman, Neptune North has already recruited over 100 staff and operates from an overseas office in Madrid, with employees also in New Zealand. 

Plans are also in place to open a US office later this year, while the firm is actively recruiting software developers, economists, quantitative analysts, and data engineers to join its Newcastle headquarters.

James Beard, chief executive of Neptune North, added: “We are bringing high-calibre individuals from places like London, Edinburgh, Germany and Canada to live and work here in Newcastle, which is fantastic for the North East economy. 

“The demand for the work we are doing at Bank House is growing rapidly, so the decision to take on this additional space was taken not long after we signed the first lease. 

“Bank House is the leading office building in Newcastle and all our new recruits are thoroughly impressed with the standard of accommodation we have to offer, the proximity to the city centre and housing.”

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