Newcastle is the North East’s tour de force, with a thriving economy, successful regeneration projects and a lively cultural scene. In fact, the city’s economy contributes around £13 billion to the UK’s gross value added.
Newcastle continues to lure businesses away from London for its lower operational costs and high style of living. The Central Business District is in the city centre, bordered by Haymarket, Central Station and the Quayside areas. Helping to drive investment and opportunities are great transport connections, including an international airport, direct rail links to London and a fast-moving motorway network.
Newcastle city centre is a vibrant place to live, with bags of character and a 24-hour lifestyle, while suburbs including Jesmond, Spital Tongues, Gosforth, Ponteland and Sandyford are brimming with character properties, conversions and handsome family homes.
There is no shortage of bars, pubs and restaurants in Newcastle – a nightlife for which it is famed – but the city’s arts, leisure and culture scene is equally as impressive. The Culture Lab is a focal point for creative practice, and just over the Gateshead Millennium Bridge is the BALTIC Centre for Contemporary Art and the Sage concert hall. The Life Science Centre is a great day out for families, while the Great North Museum is the place to discover local history. Also giving the city gravitas are theatres and opera houses, galleries, dance centres, exhibition spaces and music venues.
Like many cities in the North East, Newcastle thrived as part of the Industrial Revolution and was a leading centre for coal mining and manufacturing. Today it’s the office, service and retail sectors that spearhead Newcastle’s economy.
Employment opportunities are created by places like Newcastle Science Central – a 24-acre mixed-use prime city-centre development designated for science business, living and leisure. The development claims there is a “talent pool of almost 1.7 million within a 30-minute drive time” of its centre and it offers “cost-competitive office space around 40% cheaper than London.”
Science Central is part of the Accelerated Development Zone – three city-centre sites in Newcastle spanning 80 hectares, unlocking £92m in funding to increase opportunities for developers and occupiers. There’s also Quorum Business Park in North Newcastle – the largest speculative office development in the UK outside central London. Companies with headquarters and significant bases in Newcastle include Sage, Virgin Money, Shepherd Offshore and HM Revenue & Customs. Newcastle University is another major employer, with over 20,000 students enrolled per academic year.
According to property search engine home.co.uk, average per calendar month rents in Newcastle stand at £519pm for a one-bedroom property; £621pm for two-bedrooms; £788pm for three bedrooms and £1,049+pcm for a property with four bedrooms or more. Rental stock in Newcastle is predominantly made up of two- and three-bedroom properties available for between £500 and £1,000 pcm.
Our relocation agents are currently active in Newcastle, sourcing properties to rent and helping settle home movers. If you have clients relocating to Newcastle and would like orientation and rental advice, contact Klippa Relocation today.