The owner of Hoults Yard is celebrating after the business village welcomed more than 12 new firms to the community since the start of the Covid-19 pandemic.
Charlie Hoult, managing director of Hyhubs, which owns the Byker based yard alongside properties in Gateshead and Newcastle city centre, said its waiting list is now longer than pre-pandemic levels, having leased space to a number of newcomers in recent months.
Mr Hoult said the new tenants have more than replaced companies and organisations that have left the Yard over the last 18 months.
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He said: “We were so sorry to see some of our tenants leave over the last few months but have been delighted to welcome so many new faces.
“Come next month our occupancy rate will be higher than it was pre-pandemic and our waiting list is now longer than it was at March last year. This is testament to our offer of great technology, brilliant property services, easy parking, inspiring meeting rooms, superb front of house and good craic! It’s also great to have the Hoults Yard team back to full strength as those who were on furlough have returned.
“We’ve looked carefully at the implications of Covid on the commercial property sector, particularly on workplace design and changing workplace culture.
“We know our business and understand tenants are now looking for something different. Many post-pandemic businesses want more than just comfortable offices in an unbeatable location – many now want larger spaces for their teams to socialise in.
“We’re helping two large tech companies – 100+ employees – right now on expanding and developing office space more conducive to a hybrid working model, where folk work from home and then come in for meetings but also to catch-up socially with colleagues.”
Hoults Yard remained open throughout all of last year, and 99% of tenants visited their offices at least once a week during both lockdowns.
Mr Hoult said: “Some tenants started drifting back on a more permanent basis after restrictions were lifted in July, but we got a lot busier as soon as the school summer holidays ended. It’s hugely encouraging to see some of our gyms like Elite and Clear Fitness full of activity and some of our events-based companies such as R&B Group and Ingram Sounds back in numbers.
Read More Related Articles Sign up to our daily newsletter for all the Newcastle business news“Other tenants such as landscape architects Oobe, engineers Aarsleff and interior design specialists Design North have just cracked on and seem never to have been busier.”
The HyHubs portfolio also includes Haylofts, the former St Thomas Street stables at Haymarket in Newcastle, and Hypoint, the former Gear House business centre in Saltmeadows Road, Gateshead.
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