Newcastle a growing hub for business – The London Economic

Newcastle a growing hub for business

By Joe Mellor, Deputy Editor

Guardian and Observer readers have just voted Newcastle the best city in the UK. Well there is even more good news; Tyneside is becoming an ever popular choice for businesses taking up office space.

Instant Offices sees the city of Newcastle as a prominent growing hub for UK businesses. With university graduates choosing to stay in the bustling city rather than migrate to London, and organisations such as NE1 lobbying for business growth and securing another five year term for their work on the Newcastle Business Improvement District (BID); companies in the city are gaining an increasingly competitive edge.

The BID initiative has recently been championing commercial initiatives in a range of industries. The energy sector in particular has witnessed recent innovation coming from Newcastle, following the launch of a new NSW Energy Innovation Knowledge Hub in September.

As a result of increased commerce and innovation, Newcastle is fast becoming a popular choice for businesses taking office space. Due to the number of design schools situated in the city, the demand for office space from gaming and technology companies is higher than ever before. Recruitment and telecoms are also growing industries in the area.

Newcastle boasts a huge amount of flexible space which has seen a lot of start-ups coming to the market. Companies can also benefit from the large number of serviced offices based in the city centre, enjoying good access to transport links.

Instant Office’s latest location report found rental costs averaging between £220 and £250 per workstation, indicating that Newcastle remains a cost effective market to take space in.

Sophie Turnbull, Senior Operator Relationship Manager at Instant Offices says:

“Newcastle has become a core city in the North East for businesses to have a presence in. With a growth in the city’s investment and development opportunities and desk rates remaining competitive, it is a location that will only become more popular over the next 3 years.”

Photocredit Wikipedia/Jimmy Guano

 

 

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