Bank House reaches full occupancy
Three months after moving into the eighth floor of the landmark Newcastle office development, fintech startup Neptune North is taking an additional 5,000 sq ft on level six to complete the building’s line-up.
An 11-week fit-out programme will now commence, undertaken once again by ADT Workplace, following which Neptune North will move into the space in January.
The company now occupies 15,000 sq ft at Bank House, which is a key part of the Pilgrim Street masterplan.
The 207-foot property was designed by Ryder Architecture, built by Bowmer + Kirkland, and is jointly let by Avison Young and Knight Frank.
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.
Revised plans for the building were approved by Newcastle City Council back in June, with changes made due to fire and sustainability regulations.
Developed by Taras Properties, which is owned by Reuben Brothers, both buildings are also being constructed by Bowmer + Kirkland and are expected to complete Q2, 2027.
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.
Chief executive 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.”
Tony Wordsworth, partner at Avison Young, 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.”
