Atom Bank to move HQ to Newcastle’s Pattern Shop

Relocating from the Rivergreen Centre in Durham, the bank has taken the entirety of igloo Regeneration and Newcastle City Council’s 32,000 sq ft heritage redevelopment.

The digital bank places an emphasis on flexible working for employees and a four-day working week, and has taken space at the hub with the aim of creating a working space that employees want to leave home for.

The building’s low-carbon attributes also align with the bank’s aim of becoming carbon positive by 2035 in both its operational emissions and all scope three financed emissions associated with its lending. It is the first UK bank to make this pledge.

Knight Frank secured the letting on behalf of Newcastle City Council and igloo Regeneration, which worked together on the £9m renovation of the former offices of industrial pioneer Robert Stephenson, inventor of the first practical steam locomotive.

Completion was reached last spring.

Senior surveyor at Knight Frank, Nathan Douglas, said: It’s a coup for Founders Place and the city of Newcastle to welcome one of the region’s best known success stories. The Pattern Shop’s strong ESG credentials align with Atom bank’s ambitious sustainability targets and the building’s inspiring aesthetic and features that promote wellbeing will support Atom’s pioneering approach to employee happiness and talent attraction and retention.”

Mark Mullen, chief executive of Atom bank, said: “Our investment in the iconic Pattern Shop is a bold statement about how we see the future of work.

“While many companies are backtracking on past commitments, and forcing their people back to the office, we’re doing the opposite – we’re creating a social space that brings people together because it’s inspiring, not because it’s mandated.

“The Pattern Shop played a key role in shaping the modern world. With its unique character and rich history, it is the perfect place to reimagine what a company HQ can be…

“Its deep roots in the North East industrial heritage mirrors our ambition to build on tradition with bold, modern thinking.”