The multi-million pound office investment, which is subject to contract, will see the bank relocate from The Rivergreen Centre in Durham to The Pattern Shop in Newcastle.

The bank said the move aligned with its commitment to become fully carbon positive by 2035, including through both operational and all financed emissions associated with its lending.

Commenting on the move, Mark Mullen, CEO at 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.

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“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.

Knight Frank secured the letting on behalf of Newcastle City Council and its development partner, igloo Regeneration, with JLL representing Atom in the negotiation of the term of the lease documents.

The bank also released recent data which revealed a 65% reduction in attrition in the three years since its introduction of its four day working week back in November 2021, alongside a 9% increase in employee engagement to 81%.