Utilitywise plc, a leading independent utility cost management consultancy, is poised for further growth and to create more jobs in the North East as it moves to larger premises at Cobalt Business Park, North Tyneside.
The move to new flagship headquarters follows excellent financial results, which saw the company report a 105 per cent increase in revenue to £21 million.
Utilitywise was established in 2006 with just four employees in Team Valley, Tyne and Wear. Since then, Utilitywise has grown to have 640 employees in the North East, making it one of the fastest growing companies in the region.
Utilitywise helps businesses get more value out of their energy and water contracts, reduce their utility consumption and lower their carbon footprint. The office move will allow Utilitywise to employ an additional 560 staff in the coming years as the company continues to expand. All staff currently based at Utilitywise House, South Tyneside will move to the new offices at Cobalt Business Park, which can be easily accessed by car and public transport.
Geoff Thompson, CEO at Utilitywise, said: “In only eight years we have grown from four employees based in Gateshead to today with over 800 members of staff located across the UK. With more-and-more businesses large and small looking to become energy efficient, we are confident there is further growth ahead and we are moving to larger offices to prepare for that expected demand.”
Geoff continued: “We have enjoyed a period of rapid growth from our headquarters in South Shields and have conducted a thorough evaluation of all of our property options in the region. We would like to thank South Tyneside Council for their support over the years. We continue to employ more than one hundred people from South Tyneside, representing around 17 per cent of our UK workforce, and we remain committed to the North East region.
“This office move will prepare the company for future growth that will benefit the local economy with employment opportunities.”
Adrian Hill, director at Highbridge Properties plc, commented, “Being able to attract a North East based PLC to Cobalt is further testament to the quality of our buildings and world class working environment. Utilitywise further enhances the tenant portfolio at the Park joining Proctor & Gamble, Hewlett Packard, EE and Santander.”
The letting of 77,632 sq ft to Utilitywise is the largest office leasing deal in the North East since 2009.
The Elected Mayor of North Tyneside, Norma Redfearn, joined Geoff Thompson and Adrian Hill at the new state-of-the-art offices that will provide Utilitywise with double the floor space when employees are relocated later this year.
Norma Redfearn said: ”We are delighted to welcome this rapidly growing, dynamic company to North Tyneside. Utilitywise is creating a number of high calibre jobs for local people and we look forward to supporting the company with its ongoing growth plans in the future.”