A new office complex on the Wynyard Business Park aimed at start up businesses and SME’s is proving a runaway success. All five units at the Origin hub have been snapped up within weeks of coming to the market.
Recognising a gap in the market, owners of the Business Park, Northumberland Estates, recently took the decision to convert existing space into smaller units ranging from 938 sq ft down to 173 sq ft and to be let on flexible terms.
Amongst the new tenants of the Origin Hub are property contractors Complete Property Revival, Halfpenny Accountancy, construction company Balfour Beatty and innovative transformation consultants, Radical Panda.
“We were confident there was demand for smaller units such as this” says Anthony Cape, Asset Manager at Northumberland Estates, “but were surprised at the speed with which they let. It’s not just about the size of the office space, but also the flexibility of the lease terms and the convenience of services included. This makes these units less of a risk for a smaller business and easier to budget for.
“When we started our new joint venture we needed more space and started to look around the Teesside area,” says Matt Atkinson Co-Founder and Director of Radical Panda who recently took space at Origin. “Origin has proved ideal. We love the high quality of the office spec and having access to the facilities at Wynyard House make it perfect for meeting clients. Because the business is growing so fast we already need more space, but are planning to stay on the Business Park and take on a larger unit in due course. We work with partners and clients across the world, but the North East is where our roots are and where we want to stay. Wynyard is proving a perfect location and Origin an ideal stepping stone for us to grow the business.”
“Because we have offices of all types and sizes” says Anthony Cape “it enables us to offer existing tenants a range of options when looking to expand or adapt to changing needs. Being able to grow by relocating on-site makes the whole process much less of an upheaval for a business, and given our hands-on approach at the Estate, the relations forged have proven advantageous for all parties.”
Says Patrick Matheson of Letting Agents Knight Frank “the market is changing and the needs of modern businesses are changing too. What these new entrepreneurs want is a light bright space, good facilities including high quality broadband, and flexible lease terms. They also appreciate all of the on-site facilities offered by somewhere like Wynyard such as the café, gym and nursery. The Origin hub was specifically designed with these needs in mind and as a result we have been able to attract a good mix of tenants.”
Such has been the success of the Origin Hub, Northumberland Estates has committed to creating similar suites, ranging from 355-672 sq.ft, at Wynyard Business Park this coming Spring.