A tech startup which operates in the financial services sector has signed a lease on the 8th floor of Newcastle’s Bank House.
Neptune North is set to take occupation of the 10,000 sq.ft. floorplate on Pilgrim Street in May following completion of a 12-week fit-out project.
The firm anticipates that over 100 employees will be working within its new high-specification office by the end of the year and is actively recruiting software developers and data engineers.
Neptune North was established in 2024 as a joint venture between investment fund manager Rokos Capital Management and Oliver Wyman, a global leader in management consulting.
After initially taking space at Bank House in May of last year, Neptune North has grown rapidly. Commenting on the firm’s success, Tony Wordsworth of Avison Young, joint letting agent with Knight Frank, said: “It is very rare for a startup business to grow so swiftly to require 10,000 sq.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.”
Neptune North’s fit-out project, which will feature an open plan design incorporating breakout areas and a large fully fitted kitchen, is being delivered by ADT Workplace who recently undertook a similar project at Bank House for law firm Knights.
According to Neptune North’s CEO, James Beard, the firm wants to offer a world-class workplace to help it attract leading software candidates to Newcastle.
James Beard 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 5 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.”
Dawn Dunn, Digital and Tech Sector Lead, Invest Newcastle, said: “This investment in the city will provide a significant boost to the North East’s digital ecosystem and further cement our position as a key player in the fast-moving global marketplace for financial technology and services.
“James and the team are bringing new ideas and capabilities to our region, and we look forward to connecting them with the very best of our talented workforce to maximise the economic and social benefits this will bring.”
The 207-foot-high property, 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. Following its launch in May 2023, Bank House has already reached 75% occupancy. In previous lettings to take place at Bank House, deals were agreed with tenants including Cundall, DAC Beachcroft, Lycetts, Barclays and Knights.
