Newcastle is a diverse and thriving city, located in the North East of England on the banks of the river Tyne. Thanks to its strategic location near the border between England and Scotland, the city has a rich history of trade and business.
The city is a key location for many companies from London and the South looking to relocate. The city’s lower living costs and quality employment opportunities can make it an attractive location for companies.
In this article, we explore the many benefits of basing a company office in Newcastle. We’ll discuss the city’s key areas to consider for office space as well as the business ecosystem already present in the city.
We’ll also highlight some of the commercial and business development opportunities a business based here could take advantage of.
Top business areas in Newcastle
Newcastle packs a lot into a relatively small space. Unlike larger cities like London, travel time across the city is often less than 30 minutes. This means wherever your business is based, you’ll have easy access to the city’s many amenities and attractions.
Newcastle is made up of several unique areas that each offer different benefits. Depending on your business’s industry, size or location needs, you may find one location is more suitable for your business than another.
When looking for office space in Newcastle, some of the main areas to consider are:
● Quayside: This area was once a key trading dockside, but has been transformed into a cultural hub over recent decades. The area overlooks the Gateshead Millennium Bridge and is home to major cultural attractions such as the BALTIC Centre for Contemporary Art.
● Central Business District: This city centre location is a key retail and leisure location. This area contains The Gate shopping centre, Newcastle Castle and many retail, dining and entertainment businesses.
● Haymarket: This district lies to the north of the city centre and connects to the bustling Northumberland shopping street. The Newcastle Civic Centre, Newcastle University and Northumbria University are located in Haymarket.
● Jesmond: This area offers easy access to the city centre with a more suburban feel. Jesmond is close to Newcastle Freeman Hospital and the stunning views of Town Moor Park.
5 businesses based in Newcastle
One of the benefits of basing an office in Newcastle is its diverse business environment. Nearly every area of business is represented in the city. Business sectors include finance, transport, retail, property and professional services.
Some major companies located in Newcastle include:
● Virgin Money: The UK bank has its head office based in Gosforth, a suburb on Newcastle’s outskirts.
● Greggs: The beloved British bakery chain began life in Newcastle in 1939 as a bike service that delivered eggs and yeast. Today it has over 2,000 bakeries across the UK. Its head office is in Quorum Business Park, just outside of Longbenton.
● The Go-Ahead Group: One of the UK’s major transport companies has its main office in Newcastle. The company provides bus and train services across the UK, Ireland, Singapore and Australia.
● Bellway PLC: A national property developer founded in Newcastle by the Bell family in 1946. The company now employs over 3000 people across the business.
● Deloitte: The global consultancy firm has a key UK office located in the Newcastle city centre.
Why you should rent an office in Newcastle
Having office space in Newcastle has many benefits. The city is known for its technological innovation and has a great talent pool to hire from, thanks to its major universities.
The city is well-connected to the rest of the UK and has frequent transport connections across Newcastle itself.
Many industries are well-represented in the city. Fintech in particular is known to be a growing sector.
Newcastle also has a strong culture of entrepreneurship with many business support and networking opportunities.
Below, we explore some of the main benefits of Newcastle as a city for business.
1. Technological innovation
Newcastle is a great city for technological innovation. There are many centres in the city focused on leading research across science, technology and digital.
For example, the Newcastle Helix is a new district focused on science research and education. This 24-acre district combines sustainable living projects with science research centres.
The city is also the home of the National Innovation Centre for Data and the Technological Innovation Network at Newcastle University. These institutions now stand as hallmarks for Newcastle’s forward-thinking approach to technology.
The city’s thriving tech sector has also been reflected in its economic success, as in 2021 it was estimated that tech businesses in Newcastle brought in £2 billion across 3,500 businesses.
2. High-quality talent pool
Any business with an office in Newcastle has access to a high-quality talent pool. This is thanks to Newcastle being a leading university city.
Newcastle University is a founding member of the prestigious Russell Group and a globally renowned academic institution.
There is also the Northumbria University, which was named UK University of the Year 2022 in the Times Higher Education Awards. It’s also a Top 30 in the UK for its number of graduates entering high-skilled employment.
These two universities produce thousands of talented graduates each year across science, technology, business and the creative sector.
3. Fintech growth
Newcastle is a UK city at the heart of the Fintech boom, with more growth predicted in the coming years.
The 2021 Kalifa Review of UK Fintech named the city as the fastest-growing Fintech hub in the North East.
Whitecap Consulting predicts that the Fintech sector will contribute over £430 million to the economy in the North East by 2025. This will create an estimated 2000 new jobs in the region.
Renting office space in Newcastle will put any Fintech business at the centre of this growth.
4. Connectivity
Newcastle is very well-connected, both across the city and the rest of the UK.
The city has a Metro system covering 60 stations across Newcastle, Gateshead, Tyneside and Sunderland. There is also a network of regular buses around the city. Services by Nexus, Stagecoach, Go North East and Arriva operate in the region.
Newcastle Station has frequent daily trains to major UK cities. Newcastle has direct train travel to Edinburgh, Manchester, Birmingham and London.
For air travel, Newcastle airport is just 25 minutes away from the city centre by Metro train. The airport is the North East’s main airport, with easy access to Europe and the UK by air.
5. Strategic location
Newcastle’s strategic location makes it an ideal place to base an office that needs access to international markets.
The city is well-connected to Scotland and the rest of the UK and is close to global shipping routes.
The city is England’s biggest city close to the Scottish border, with easy access to Glasgow and Edinburgh. This makes it an ideal location for any business needing access to both English and Scottish markets.
Newcastle’s major nearby port is the Port of Tyne. This port is a busy cargo port, serving locations across Europe and the rest of the world. This means any business needing easy access to international trade is well-suited to an office in Newcastle.
6. Business support services
Newcastle has plenty of opportunities for growing businesses of all stages and sizes. If you’re looking to rent office space in Newcastle, your business could also take part in these schemes.
Citylife business support offers up to twelve hours of free support to eligible SMEs in Newcastle and some surrounding areas. This support could include one-on-one advice on finance, digital, business planning and sustainability.
The NorthEast Growth Hub is another initiative Newcastle businesses can use. The organisation offers funding opportunities and business development for Newcastle businesses of all sizes.
7. Tradition of enterprise
Newcastle has a tradition of enterprise dating back to Roman times. The city’s riverside location made it a key trading port for centuries, which helped the city grow into the thriving metropolis it is today.
Throughout history, it has successfully navigated the rise and fall of various industries. For example, the city was once a hub for shipbuilding and coal.
Today, that business mindset remains, leading the city to be a great location for growth. Modern industries such as technology and finance are now some of the most crucial industries in Newcastle.
Basing your office in Newcastle will put your business in a city that has a long history of entrepreneurship and business innovation.
How much is it to rent an office space in Newcastle?
Newcastle offers all the benefits of a modern city, without the price tag that some other cities have.
Other major UK cities like London can charge businesses £500 per month per person for office space.
In contrast, office space in Newcastle with Regus starts from just £129 per person per month.
Office spaces in Newcastle
If you’re looking to rent office space in Newcastle, there are plenty of options to suit all business needs.
Here are some of our premier Newcastle office spaces that you could consider for your organisation.
Cloth Market
Cloth Market is a bright and modern office located right in the city centre. This historic market location is now home to many bustling businesses, with easy access to the rest of the city via the nearby Central Station.
This office space in Newcastle is located between Newcastle’s Theatre Royal and the 11th-century Newcastle Cathedral. Its central location means dining, shopping and entertainment options are just a few minutes walk away.
Highlights include:
● Collaborative break-out areas
● Business lounge
● Parking
Information about Cloth Market
● Location: 30 Cloth Market, Newcastle upon Tyne, Tyne and Wear, NE1 1EE
● Starting cost: Private offices from £195 per person per month
● Opening hours: Private Office and Dedicated Desk access is 24/7 access; Memberships access during reception hours
● Nearby Stations: Newcastle Central Train Station (a five-minute walk away) and Grey Street Bus Stop (a three-minute walk away)
Newcastle Quayside
Newcastle Quayside is located next to the River Tyne on Newcatle’s historic Quayside. This office is close to the iconic Gateshead Millennium Bridge.
Once a commercial dockyard, the area is now a prime Newcastle location for arts and culture. A business with an office in this Newcastle location can benefit from waterfront views while being close to city amenities.
Highlights include:
● Business lounge
● Disabled facilities
● Sandwich service
Information about Newcastle Quayside
● Location: 116 Quayside, Newcastle upon Tyne, Tyne and Wear, NE1 3DY
● Starting cost: Private offices from £195 per person per month
● Opening hours: Private Office and Dedicated Desk access is 24/7 access; Memberships access during reception hours.
● Nearby Stations: Manors Train Station (a 10-minute walk away), City Road Gibson Street Bus Stop (a four-minute walk away), and Quayside Law Courts Bus Stop (a six-minute walk away)
Cobalt 54
Located in Cobalt Business Park and just 10 minutes from Newcastle city centre, Cobalt 54 offers a modern and efficient office space. his building is distinguished by its contemporary silver façade and glass-fronted foyer, making it an ideal location for businesses seeking a professional environment.
Highlights include:
● Business park location
● Collaborative break-out areas
● Fully equipped meeting rooms
Information about Colbat 54
● Location: 15A Cobalt Business Park, Newcastle upon Tyne, NE27 0QQ
● Starting cost: Private offices from £129 per person per month
● Opening hours: Private Office and Dedicated Desk access is 24/7 access; Memberships access during reception hours
● Nearby Stations: Cobalt Business Park Bus Stop (a one-minute walk away) and Northumberland Park Metro Station (a 20-minute walk away)
