BQ Newsletter

Mammoth build complete at Quorum

Wednesday 28 March 2012

QUORUM Business Park in Newcastle is now complete after finishing work on the last of its speculative office buildings, marking the end of what was the largest speculative office build in the country.

The eight new buildings on Quorum have taken over 540,000 man hours to build over a three and a half year period, providing work to almost 2,000 local builders from a number of North East contracting companies.

The final two office buildings to be completed are Q10 - the largest building at Quorum at 104,000sqft, and Q3, which is the smallest at 26,000sqft – both of which have achieved BREEAM Excellent environmental awards, reflecting the green technologies used during their construction.

Whilst the buildings have all been built speculatively, the scale of build has been matched by its tenant attraction with over 300,000sqft of lettings achieved over the same period, to occupants such as Tesco Bank, Balfour Beatty and Convergys.

Fergus Trim, development director at Quorum said: “The development of the site has been a huge project which has transformed the business environment in this part of Newcastle.

“The build programme began in summer 2008 and has continued without pause, despite the property market dipping during 2010 and 2011, with Quorum securing funding for the entire build before the downturn materialised.

“We have been ambitious and financially able to continue building and now have a prime business location to offer new incoming tenants - a strong position to be in whilst many competing markets across the country are starved of high quality office space.”

There are currently 4,000 people employed at the park, with that number expected to rise further this year with existing Quorum tenants continuing to create jobs there.

Building work has begun on the parks’ 10,000sq ft retail scheme which is due for completion in autumn 2012, with GREGGS and Tesco Express among the tenants who have committed to new shop units.