Office Space in Newcastle

Why Choose Office Space in Newcastle? A City on the Up

Newcastle upon Tyne, a city famed for its friendly atmosphere, rich history, and vibrant culture, is increasingly
attracting businesses seeking a dynamic and cost-effective location. With ongoing regeneration, a growing talent
pool, excellent transport links, and a competitive cost of living compared to many other UK cities, Newcastle is
becoming a popular choice for businesses of all sizes. If you’re considering relocating or expanding your
business, finding the right office space in Newcastle is a crucial step. This article explores the compelling
reasons why Newcastle should be on your radar and offers valuable insights into navigating the local office
market.

Connectivity and Accessibility: Linking the North East

Newcastle’s strategic location in the North East of England provides excellent connectivity to other major UK
cities. Newcastle Central Station is a major hub on the East Coast Main Line, offering frequent and fast train
services to London, Edinburgh, and other key destinations. The city is also well-connected by road, with easy
access to the A1 and A69, providing efficient transport links across the region and beyond. Newcastle
International Airport offers convenient access to domestic and international flights. This excellent connectivity
makes office space in Newcastle particularly attractive for businesses with regional, national, or international
operations.

A Growing Economy and Skilled Workforce: Nurturing Talent

Newcastle boasts a diverse and expanding economy, with key sectors including digital technology, professional
services, healthcare, education, and advanced manufacturing.

The city is home to several universities, including Newcastle University, which contributes to a large pool of
talented graduates and experienced professionals, providing businesses with access to a skilled workforce.
Furthermore, ongoing regeneration projects, such as the Science Central development, are creating a hub for
innovation and attracting further investment, fostering a positive environment for businesses to thrive. This
dynamic environment makes office space in Newcastle an increasingly attractive proposition.

Cost-Effective Office Solutions: Leased vs. Serviced – Understanding the Options

When searching for office space in Newcastle, businesses typically encounter two main options: leased offices
and serviced offices. Understanding the differences in cost, flexibility, and services is essential for making an
informed decision.

• Leased Offices: Traditional lease agreements offer businesses greater control over their workspace and
  branding. However, they typically involve higher upfront costs, including deposits, legal fees, and fitout expenses. Lease terms are usually longer, typically ranging from three to five years or more,
  providing stability but potentially limiting flexibility. Monthly rental costs for leased office space in
  Newcastle can vary considerably depending on size, location, and condition. Expect to pay anywhere
  from £8-£20 per square foot per annum, excluding business rates and service charges.
• Serviced Offices: Serviced offices offer a more flexible and all-inclusive solution. These offices come
  fully furnished and equipped, with amenities such as meeting rooms, administrative support, and IT
  infrastructure often included in the monthly fee. Serviced office agreements are typically more flexible,
  with shorter lease terms available, making them ideal for startups, SMEs, and businesses seeking agile
  workspace solutions. While the per-square-foot cost might be higher than leased offices, serviced
  offices can often be more cost-effective when factoring in all the included services. Expect to pay from
  £180-£450 per desk per month, depending on location, size and provider.

Estimated Office Costs in Newcastle (Illustrative Examples):

• Small Business (5-10 employees):
  • Leased Office (1,000 sq ft): £8,000 – £20,000 per annum (rent) + business rates + service
    charge + fit-out costs.
  • Serviced Office (5-10 desks): £900 – £4,500 per month (all-inclusive).
• Medium-Sized Business (20-30 employees):
  • Leased Office (3,000 sq ft): £24,000 – £60,000 per annum (rent) + business rates + service
    charge + fit-out costs.
  • Serviced Office (20-30 desks): £3,600 – £13,500 per month (all-inclusive).
• Large Business (50+ employees):
  • Leased Office (5,000+ sq ft): £40,000+ per annum (rent) + business rates + service charge +
    fit-out costs.
  • Serviced Office (50+ desks): £9,000+ per month (all-inclusive).

Note: These figures are illustrative and can fluctuate based on specific requirements and market conditions.
Thorough research and obtaining quotes from multiple providers are essential for accurate pricing information.

Why Newcastle Makes Sense for Your Business:

Beyond the cost advantages and connectivity, Newcastle offers a unique blend of history, culture, and a friendly
atmosphere. The city boasts a vibrant nightlife, a thriving arts scene, and a wide range of restaurants, bars, and
shops. Newcastle’s compact city centre makes it easy to get around, and the surrounding countryside offers
beautiful scenery and outdoor activities.

Finding the Right Office Space in Newcastle:

Navigating the Newcastle office market can be complex. Engaging a local commercial property agent can be
invaluable in identifying suitable properties, negotiating lease terms, and ensuring a smooth transition. Online
property portals and business directories can also be useful resources in your search for office space in
Newcastle.

Conclusion:

Choosing the right office space is a critical decision for any business. Newcastle offers a compelling
combination of affordability, connectivity, a skilled workforce, and a high quality of life. Whether you’re a
startup, SME, or large corporation, exploring office space in Newcastle could be a strategic move for your
business’s future success. By carefully considering your needs and exploring the available options, you can find
the perfect workspace to support your growth and achieve your business objectives.