Neptune North has completed a second letting at Newcastle’s Bank House in a deal which sees the landmark office development achieve 100% occupancy.
The fintech startup has signed a lease on half of level 6 of the building on Pilgrim Street, less than three months after taking occupation of level 8.
The firm will move into the additional 5,000 sq.ft of office space in January following completion of an 11-week fitout programme to be undertaken once again by ADT Workplace.
Neptune North has already recruited over 100 employees since it was established in 2024 as a joint venture between global investment fund manager Rokos Capital Management and Oliver Wyman, a global leader in management consulting.
In addition to its 15,000 sq.ft HQ at Bank House, Neptune North has established an overseas office in Madrid and has a number of employees in New Zealand. The firm has plans to open a further office in the United States in the coming months.
According to Neptune North’s CEO, James Beard, the firm is recruiting software developers, economists, quantitative analysts and data engineers, along with a number of other roles, from across the UK and overseas to come and work at Bank House.
James Beard said: “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.”
Data engineer Tobia Beccari relocated to Newcastle from Stratford upon Avon to take up a new role at Neptune North and is relishing his new work life at Bank House, he said: “I moved to Newcastle to kick-start the data team and whilst I was not sure what to expect, given that I hadn’t been further north than Sheffield, I have found both Neptune North and Newcastle incredibly welcoming!
“Bank House has been the perfect location to introduce me to the panoramic view of the city, and I am now quite proud to call Newcastle home, no less because of the friendships started at Neptune North.”
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% occupancy.”
Following completion in 2023, Bank House has attracted tenants including DAC Beachcroft, Lycetts, Barclays, CUBO, Cundall and Knights.
The next phase of development, which commenced on site earlier this summer, comprises 1 Pilgrim Place where 245,000 sq ft of grade A office space will be delivered, with a 170,000 pre-let already secured with the Department for Work and Pensions. In addition, 2 Pilgrim Place will provide around 100,000 sq ft of grade A office space.
Both buildings are expected to be completed Q2 2027.
