Partner Article

Quorum business park takes on national perspective

More than £180 million is being invested into England’s biggest office development, despite the current economic climate. The developer of Quorum Business Park in Newcastle has pledged to fully complete the scheme by early 2012.

Work is now underway on the new phase, after developer Quorum Development Partners secured £180 million worth of funding just before the current banking crisis hit.

With funding for the entire development secured, Quorum will be bringing eight new buildings - totalling 450,000 sq ft - out of the ground in the next three years.

The business park will house 12,000 staff once complete. Quorum Development Director Fergus Trim said: “A real focus is promoting Quorum on a national level to the major PLCs.

“With the current pressure on costs, some major corporate occupiers are closely looking at the financial savings that can be achieved - telling a business they don’t have to pay any rent for five years is a persuasive message in today’s market.”

North East Chamber of Commerce chief executive James Ramsbotham said: “It’s a real vote of confidence in the North-East that Quorum Development Partners has committed to £180m worth of investment in the next phase at Quorum Business Park.

“It’s wonderful to see work physically happening on site and think about the prospect of more blue chip companies re-locating to the region and home grown businesses expanding here. “This can only be seen as good news which we, of course, welcome.”

Mr Trim said: “The skills quality of the local workforce - 463,000 people live within a 20 minute journey of Quorum - and the financial offer is attracting strong interest from within the region and beyond.

“The availability of high quality buildings at such unbeatable value is great news for the North East, giving the region a real competitive advantage.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .