The entrepreneur behind thriving business village Hoults Yard is to open a creative hub in Newcastle city centre after acquiring an historic business centre.
St Thomas Street Business Centre – the former stables of Newcastle Breweries – has been snapped up by the team behind Byker’s Hoults Yard and will soon be home to a new community of tech and creative start-ups.
The acquisition marks the latest step in the expansion of Hoults Yard hubs in the North East, following recent additions of HYpoint in Gateshead and StationH, the former police station, in Sunderland, giving the firm company almost 500,000 sq ft of real estate – with further sites to follow soon.
The building, dating from the early 19th century, is in a conservation area close to Newcastle University. It was formally opened as a business centre by the Prince of Wales in December 1986.
Now the St Thomas Street building will be converted from workshops to trendy office space, and will be rebranded as Haylofts, following the branding of the other hubs which feature a play on the H and Y of Hoults Yard.
Charlie Hoult, director of Hoults Yard, said: “We’re spending about £1.5m on acquiring and redeveloping the site and Haylofts will become a key part of our mission to create Hoults Yard hubs across the region. All of our spaces are properties with personality and Haylofts will be no exception.
“We’ve already had firm interest from software, arts and research firms.
“We’ll be creating 22 new offices plus three boardroom-type spaces around the courtyard area which we envisage as a meeting space and a space for theatrical productions with tiered seating for up to 50 people.
“Haylofts couldn’t be more central - adjacent to the Haymarket transport interchange and so close to Newcastle University’s main campus. It won’t take us long to create the vibrant, supportive business community we’ve established at Byker and is growing at HYpoint.
“The centre will be moving from workshop spaces to trendy offices, perfect for full-time employees or for a shared office environment for coworking. If people from our other sites need a meeting space they can work out of here.”
The 8,000 sq ft St Thomas Street Business Centre was acquired from housing charity Home Group.
“Tyneside and the wider region are in great shape, and that’s what has given us the confidence to invest in HY Hubs. Our offer is good tech infrastructure, top interior styling and friendly front of house,” added Mr Hoult.
The project brings a return for Hoults project manager Chris Roe who joined the team a year ago, having worked for Home Group on the reroofing of Haylofts.
It was this time last year Mr Hoult announced a £4m transformation of a derelict Sunderland police station into StationH. The site will have 45,000 sq ft of rentable space, with space for some 200 workers.
In September, he also revealed the acquisition of HYpoint, the former Gear House business centre in Saltmeadows Road, Gateshead. The 20,000sq ft building was originally built as headquarters for Laws Stores, the supermarket chain which became Presto.
