Atom bank has announced its plan to move its UK headquarters from The Rivergreen Centre in Durham to The Pattern Shop in Newcastle.
The move comes after a period of growth and profitability for the digital bank.
The historic Pattern Shop, known for its role in the industrial revolution, has been refurbished into a sustainable, low-carbon office space.
This aligns with Atom’s commitment to be fully carbon positive by 2035.
Knight Frank facilitated the property agreement for Newcastle City Council and its partner, igloo Regeneration, while JLL represented Atom.
Atom bank will maintain its connections with Durham through initiatives like the Atom Futures Fund and partnerships with local institutions.
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.
“We’re building a culture of trust at Atom, with the flexibility to work how and where people are most happy and productive.”
Mullen added: “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.
“This isn’t just an office – it’s a symbol of who we are as a brand. Its deep roots in the North East industrial heritage mirrors our ambition to build on tradition with bold, modern thinking.
“The move comes at an exciting time for the bank as we continue to grow.”
He said: “We’re now the UK’s most trusted bank on Trustpilot, delivering market leading products, whilst at the same time achieving industry-leading employee engagement.
“Other businesses may use the blunt instrument of ‘back to the office’ diktats but at Atom, as always, we look to do the right thing.
“Our move to the Pattern Shop and Newcastle reflects that.”
Karen Kilgour, leader of Newcastle City Council, said: “I’m delighted to welcome Atom bank who are bringing their national headquarters to Newcastle.
“As one of the highest rated banks in the UK, set up in Durham, it is a great North East success story that I am sure will continue to thrive in our region.
“Atom bank is a smart forward-thinking hi-tech company evidenced by its commitment to training young people, equipping them with the essential skills they need for the jobs of the future.”
Kilgour added: “I am thrilled that they will be taking over The Pattern Shop which was a Grade II listed building we saved from dereliction with our partners igloo Regeneration and transformed into low carbon low energy office space.
“It’s a shining example of what can be achieved when a council invests capital spending in a vision, bringing over 500 jobs to the city that will provide a welcome boost to our economy.
“I wish Atom bank every success and thank them for this huge vote of confidence in Newcastle.”
Nathan Douglas, senior surveyor at Knight Frank, 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.”
Lee Conroy, senior director at JLL, said: “Atom bank’s decision to invest in The Pattern Shop is a multifaceted move that speaks volumes about the company’s trajectory as a challenger bank and the evolving landscape of digital banking.
“The Pattern Shop was chosen as it provides a unique blend of heritage and best in class office space aligned with Atom’s workplace strategy.”
