A Gateshead firm providing managed and serviced accommodation for start-ups and small businesses has unveiled ambitious new growth plans.
The Office Co. is set to expand its customer facilities at its Gateshead site, Metropolitan House, following an undisclosed five figure investment.
This will see the extension and improvement of conference facilities alongside the development of social workspace for creative industries.
The move is being supported by additional investment in superfast wireless broadband services to deliver high-speed fibre connectivity for upwards of 50 tenants. IT and engineering specialists Advantex, who have worked with The Office Co. since 2006, are delivering these services alongside Virgin Media.
The plans are part of an ambitious strategy by owner Lynn Gate to double the size of the business in the next 3 years, which currently has sales of approximately £500,000 to meet the needs of creative industries and other fast growing small businesses.
Growth will also come on the back of the firm’s expertise in securing occupancy levels that are among the highest for commercial property in the North East (85 – 90%), in the face of an improving economic landscape and the increasing demand for flexible business space.
Latest Business Growth Service* figures reveal that SMEs such as those in creative industries and IT are growing at their fastest rate since the economic crisis in 2008, as private sector firms added over 600,000 new jobs across the UK in 2014.
Lynn Gate, together with her daughter Rebekah, who has joined as sales and marketing director, also plans to expand the firm’s reach, targeting demand for services in the burgeoning sectors in London and Manchester.
The Office Co. has provided quality managed and serviced office accommodation across sites in Newcastle, Gateshead and Durham over the past 10 years, built around flexible all-inclusive rents and the core values of a community driven business environment.
Lynn Gate, who started the business in 2006, has also worked with commercial landlords and businesses to secure tenants for office space they have available for sub-letting.