Around 200 extra jobs are expected to be created as a result of the deal, which will see the London-based firm establish a major new base at the Quorum Business Park in Newcastle.
News of the deal has been welcomed as a boost to the rented office space market in Newcastle and as another step forward for the Quorum development, which recently agreed to let 13,500 sq ft of office space to the motor insurance firm Insurethebox.
“We have invested heavily in the infrastructure, amenities and sports facilities at Quorum and are pleased that high-quality buildings such as Q14 are enticing major plcs like Balfour Beatty to our region,” said the development’s director Fergus Trim.
“The northeast has so much to offer these companies,” he added.
Quorum is described by its operators as being among the largest speculative business park developments in the UK and the price of office space to rent at the site is reportedly increasing due to rising demand.
Balfour Beatty was founded just over a hundred years ago by mechanical engineer George Beatty and chartered accountant Andrew Balfour. The group now operates in the areas of infrastructure investments, professional services, support services and construction.
Editor’s notes: In 2023, Balfour Beatty was still in occupation at Quorum Business Park in Newcastle, basing its centralised employee services, IT, procurement, and finance teams.
The company has its headquarters offices in Canary Wharf in London, and bases its various teams such as its Highways, Rail, Major Projects and UK Constructions Services teams across over 30 offices in England and 4 in Scotland including its office at Maxim Business Park in between Edinburgh and Glasgow.
In April 2023, availability at Quorum Business Park included small suites of 500 square feet up to a total of 70,000 square feet across 4 office buildings that are rated either ‘Excellent’ or ‘Very Good’ by BREEAM.