A recruitment drive is under way after a new fintech start-up announced plans to launch a prime office in Newcastle city centre.
Neptune North, operating within the financial services sector, has secured a lease for the 8th floor of Bank House on Newcastle's Pilgrim Street, taking up 10,000sq ft of space in the notable building.
The firm is scheduled to move into its new headquarters in May following a 12-week fit-out project and anticipates that over 100 employees will occupy the office by year-end. It is currently on the hunt for software developers and data engineers.
Neptune North was established last year as a collaborative venture between investment fund manager Rokos Capital Management and management consulting global leader Oliver Wyman. After securing some space last May, the business has experienced significant growth, triggering a recruitment drive and the new lease for a substantial portion of office space.
The company's fit-out project, featuring an open-plan layout with breakout areas and a fully equipped kitchen, is being managed by ADT Workplace, which recently supervised a similar project at Bank House for law firm Knights.
Neptune North's CEO, James Beard, expressed the company's ambition to create a world-class workplace in Newcastle to attract top software talent. Mr Beard said: "As we continue to recruit high-calibre individuals from across the º£½ÇÊÓƵ 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.", reports .
He further highlighted the significance of their location, saying: "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."
The 207ft-high, 14-storey Bank House, designed by Ryder Architecture and constructed by Bowmer + Kirkland, is anticipated to house over 1,000 workers when at full capacity.
Since its launch in May 2023, the building has achieved 75% occupancy with tenants such as Cundall, DAC Beachcroft, Lycetts, Barclays, and Knights. Additionally, flexible workspace provider Cubo occupies the top two floors, accommodating businesses like SoPost and Leighton.
Tony Wordsworth from Avison Young, who is sharing the letting agent role 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."
Dawn Dunn, who leads the digital and tech sector at InvestNewcastle, added: "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."
