The recently renovated space will work as a co-working space for local firms who will be able to take advantage of the on-site design studio. Businesses will also be able to hire kit to run events in the facility, as well as attend events put on by The Brand Society.

Nick Johnson, founder of Precept, said: “With the city coming top as the best place in the UK to work in a recent survey, it’s an incredibly exciting time to live and work in Newcastle.

“We  love working in St. Peter's. We want to give professionals, entrepreneurs and businesses access to a creative work space and marketing facilities as well as connecting organisations to enable collaborative working, inspiring new ideas and innovation for their brands."

Members can also benefit from break out space away from their own offices for workshops, brainstorming and other off-site meetings.

The Brand Society’s premises are next door to Precept’s office. The firm, which also has a London base, is planning on creating five new roles, taking its headcount to 18.

IT firm Forfusion is one of Precept’s clients that is planning to make use of the new business hub.

Fran Jonas, marketing manager at Forfusion, said: “Brand Society is a great idea from Precept and typically forward-thinking, offering additional facilities and support to its client base and beyond. It is a significant opportunity to network and collaborate with other like-minded businesses.”