Atom bank is to move its UK HQ from The Rivergreen Centre in Durham to The Pattern Shop in Newcastle.
The multi-million pound office investment, which is subject to contract, comes following a period of strong growth and profitability for the digital bank.
The Pattern Shop, an iconic heritage building in Tyneside, was where industrial pioneer Robert Stephenson built steam locomotives in the 1800s for export around the world, heralding the birth of the railway and a key moment in the industrial revolution.
The building has been restored into a sustainable, low-carbon office space. Atom says the move aligns with its commitment to become fully carbon positive by 2035.
With a team of over 550 people, Atom says it will retain its links to Durham, including through the Atom Futures Fund, AMI Women in Technology Scholarships and its Memorandum of Understanding with Durham University.
In addition, Atom says it will maintain its four-day working week for all employees with no loss in salary. Recent data revealed a 65% reduction in attrition in the three years since its introduction, alongside a 9% increase in employee engagement to 81%.
“Our investment in the iconic Pattern Shop is a bold statement about how we see the future of work,” said Mark Mullen, CEO.
“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.
“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. 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.”
Leader of Newcastle City Council, Cllr Karen Kilgour, 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.
“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.”