Hybrid working sees surge in demand for Newcastle

Serviced office provider, Cobalt Business Exchange (CBX), based at Newcastle’s Cobalt Business Park has seen a growing demand for office space in recent months with five new companies relocating to or expanding within CBX.

The increase in the facilities attractiveness comes as larger organisations looking to provide a more flexible working arrangement for staff, are utilising CBX as an opportunity to create a hybrid working provision for their employees. CBX currently has more than 40 different businesses operating from the premises - from small start-ups to large divisions from the public sector.

Cobalt Business Exchange has invested continuously over the last decade. Starting off with just two wings of their building already developed, CBX have now refurbished the entire 120,000 sq ft building and facilities now include a successful gym open to the public, onsite café, conference centre, 1000 free parking spaces and a variety of bespoke offices.

Victoria Hunt, business manager at CBX, said: “Over the last few months we’ve seen a rapid rise in companies moving to or expanding at CBX. Within the hybrid work environment, occupier requirements are firmly focused on building a strong company culture.

“Tenants are looking to create a sense of community and collaboration among employees and increased flexibility towards work-life balance. Our continued investment in amenities to fit tenants’ new requirements has resulted in a significant surge in demand for our serviced offices.”

Recruitment firm Jackson Hogg Ltd, has recently moved into CBX. Aoife Owens, associate director at Jackson Hogg said: “As a result of growth, we found ourselves needing to find new office space last year. We knew we wanted to find a modern space that would provide excellent facilities for all of our team, along with enough meeting room space and amenities including a café, gym and excellent public transport links.

“We were delighted when we found space at CBX and decided to choose this as our new home as it could offer everything we needed, along with flexibility for us to scale in order to align with our growth plans.”

Long term tenants Forfusion are currently expanding at CBX. Business services director at Forfusion, Katie Griffin said: “Forfusion moved to CBX in 2012 and are continuing to expand on site to accommodate our growth. The location is fantastic, parking is included, hassle free and plentiful with several of our team now using the reliable on-site EV charging points.

“Having an on-site cafe creates a community atmosphere and gathering point for all tenants. Over and above our office space, there are plenty of breakout spaces to relax or hold fewer formal meetings, with a conference suite for larger events.”

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