Creative Space Management has been named as the operator of Newcastle’s Toffee Factory development, it has been confirmed.
The company was appointed to manage the facilities by the local development firm 1NG, which is leading the drive to regenerate the neglected Ouseburn Valley area of Newcastle.
Businesses occupying the 1,500 sq m of office space are principally expected to be drawn from the new media and design sector.
Toby Hyam, of Creative Space Management, said: “Toffee Factory will undoubtedly appeal to creative companies seeking space on flexible terms.”
Floorspace in the Toffee Factory building, formerly the Maynards Factory, is to be divided into 25 rental slots measuring between 500 and 1,100 sq ft.
Some £6 million has been earmarked to overhaul the building to meet the needs of small to medium enterprises from the digital and creative sectors