A report an industrial unit used to store pyrotechnics was on fire led to fears of a major incident.
But firefighters called to Pennywell Business Centre, off Portsmouth Road on the estate, quickly brought the incident under control.
They were called to the scene at around 3pm today after the fire was spotted.
It is believed the two-storey unit is used to store costumes, masks and other items used in entertainment performances and it was reported fireworks were also inside the building.
A crew from Farringdon Fire Station was first on the scene and swiftly brought the incident under control.
Hose reels were used to put out the fire, with thermal imaging cameras then drafted to check the fire was out and there were no hot spots which could spark off the blaze again.
Positive pressure ventilation fans also helped clear the building of fumes.
A spokesman for Tyne and Wear Fire and Rescue Service said: "Five appliances were sent because of the pyrotechnics, just to make sure, but when Farringdon arrived, they took control quickly and dealt with it very professionally."