Quorum and Cobalt parks attract new investments

Jun 11 2008 by Tony Hordon, The Journal

RESEARCH from DTZ over a four-year period would suggest that take up levels in North Tyneside make it the best performing borough in the North East, and one of the best performing areas across the UK.

North Tyneside is a relatively small borough stretching 35 square miles with a population of 191,000 people yet it boasts two significant business parks in the form of Cobalt and Quorum and consequently “punches well above its weight”. With their Enterprise Zone structure, and therefore funding ability, both business parks have been significant, not only to North Tyneside, but to the North East in attracting a number of new occupiers, and therefore, new opportunities to the area.

With in excess of 1.4 million sq ft already built across the two parks, there is a significant amount of floor space. It is, perhaps, a look into the future which is most exciting, particularly at Quorum as the joint venture partnership of Grantside and Tritax has secure funding to ‘build out’ the remaining phases. Over 450,000 sq ft will be built under one contract which is potentially the largest out of town building site in the whole of the UK. With ‘build out’ the developer also has the opportunity to consider the landscaping design in detail. By means of an extensive new landform, plantations, water and artwork, together with the natural form of the site, the team have been able to create an entirely new experience, creating that all important sense of arrival and an attractive place to work and visit in its own right – ensuring the inside is brought to the outside.

As part of ‘build out,’ the developer has included a 120 bed hotel and a retail parade, both visual additions that will form part of the heart of the park, contributing to that all important amenity value.

Recent research has shown that the design of the working environment has a huge impact on the success of a business. It can influence the health of employees and impacts on how a business is perceived by clients and customers, and how successfully it relates to the wider environment – physically, socially and economically.

While the needs of different organisations vary considerably, it is possible to draw out a common theme in ensuring Cobalt and Quorum create successful places to work. Perhaps the overarching issue is sustainability, which in a wider sense is currently placing a huge amount of pressure on the design elements of the new generation of office buildings arriving. It encompasses not only the use of environmentally friendly materials, processes and technology, but also the balance between making effective and economic uses of space to create a place where people want to work. The ability of an employee to control levels of heating, lighting, temperature and air quality in their individual workspace, for example, can only result in more effective use of building systems, producing lower carbon emissions.

Well designed, flexible and accessible work places, such as Cobalt and Quorum, have also contributed positively to the local environment and greater North Tyneside borough. A location that is easily accessible by public transport not only reduces car use but also, more often than not, means that local shops, banks and other services are within easy reach of the user. Alternatively, a mix of uses on the site – for instance, retail and leisure facilities alongside offices, can bring benefits to local residents. High quality landscaping and integration of public art also helps create distinctive and successful places that, particularly in urban areas, can act as a catalyst for a wider regeneration.

Coincidentally, both business parks experienced some major challenges during their initial stages, particularly with the loss of major employers, Siemens and Via Systems. Local government provided significant grant assistance to these large, powerful organisations that provided jobs, but unfortunately, not job security. Today, both business parks are home to a wide variety of businesses – the majority of the workforce is engaged in knowledge based or service industries and the emphasis on production and manufacture, originally the main drive for the local economy, has gradually diminished. Therefore, should there be a downturn in the market, not all businesses at the parks will be affected. The diversity of Cobalt and Quorum ensures that the borough and region no longer has all its ‘eggs in one basket’.

Both Quorum and Cobalt reflect a very strong image for North Tyneside and the larger regional economy. Both have been successful in attracting and retaining only the best calibre of staff and I believe this next level of investment ensures the parks are leading examples of imaginative ‘people friendly parks’ ensuring North Tyneside and, in particular, the North East of England, leads the way.

Tony Hordon, DTZ offices & development director

PAGE TWO: Beacon Centre - big times ahead.