A Gateshead firm providing managed and serviced accommodation for start-ups and small businesses is eyeing further sector growth after securing several new tenants.
The Office Co., which is marking a decade in business this year, has let more than 2,300 sq. ft. of commercial office space at its Metropolitan House site in Longrigg Road.
Undisclosed new deals have been secured with UK property specialists Homes or Houses, IT network firm SL Data, shipping company Schulte & Bruns UK Ltd, and commercial property cleaners, Let’s Clean North East Ltd.
They are relocating to Metropolitan House to take advantage of all-inclusive rental packages designed for businesses looking for short-term or highly flexible office space to accommodate expansion.
This is the latest success for The Office Co., which continues to achieve occupancy levels that are among the highest in the North East (85% – 90%) in the face of post-Brexit business uncertainty.
With current sales in excess of £300,000, the firm is supporting growth with investment in infrastructure services that include the latest superfast broadband services to deliver high-speed wireless connectivity for upwards of 50 tenants.
The plans are part of an ambitious strategy by owner Lynn Gate to double the size of the business in the next three years to meet the needs of start-ups, SMEs and other businesses.
She sees growth coming on the back of increasing demand for flexible office space that meets the specific needs of SMEs.
According to a report by the Enterprise & Social Research Council*, SMEs contribute 47% of revenue to the UK economy, playing a key role in boosting productivity – but need specialist support to expand their businesses and increase impact.
The Office Co. provides quality accommodation built around flexible all-inclusive rents and the core values of a community driven business environment.
Lynn Gate, who started the business in 2006, also works with commercial landlords and businesses to secure tenants for office space they have available for sub-letting.
Jackie Fitzgerald, founder and director at Homes or Houses, said they are looking forward to operating from Metropolitan House as the business expands.
She said: “We didn’t want to be locked into unworkable long-term rental agreements. We wanted to benefit from the flexible and cost-effective open door accommodation packages that Lynn and her team provide.
“In addition, the location of Metropolitan House is ideal for access to major roads both north and south, which suits our property business perfectly.”
Welcoming the new tenants, Lynn said that understanding and supporting the needs of the SME sector after 10 years in business has been the key to securing success.
“We will continue to target sector growth on the back of providing quality services and commercial accommodation. That’s why we have had clients stay with us since we opened Metropolitan House 10 years ago.
“Furthermore, with an emerging creative sector, we are committed to supporting like-minded business owners and managers who reflect our own core values and want to inspire and generate regional growth.”
The Office Co. offers a range of serviced and managed offices, virtual offices and meeting rooms for a wide range of businesses. Long-term clients include Checkatrade.com, Iles Consulting and Enlighten Design. More at www.theofficeco.co.uk
*http://www.esrc.ac.uk/news-events- and-publications/evidence- briefings/boosting-uk-productivity- with-sme- growth/