Accenture, one of the largest companies of its kind in the UK and with offices across the country, is to join a number of other significant local employers at the business park on North Tyneside.
The business is establishing a global delivery centre at Cobalt 15a based on a 10-year lease on 30,515 sqft of offices. Plans are in place for roughly 250 staff to start working from the new north-east offices with further expansion in the region, which is said to be very much on the agenda.
“We are delighted to welcome Accenture to the business community at Cobalt,” said Adrian Hill, director of the business park’s primary developer, Highbridge Properties.
“By choosing Cobalt, Accenture has underscored Cobalt’s appeal to major corporate organisations. We see Accenture’s decision as part of a national trend of service sector companies moving to prime office park locations,” he added.
Cushman & Wakefield acted on behalf of Highbridge during negotiations regarding Accenture’s occupancy of an office at Cobalt, with BNP Paribas Real Estate acting for the consulting and professional services group.
The Cobalt business park is the largest purpose-built complex of its kind in the UK, and its tenants at present include the likes of the consumer goods giant Proctor & Gamble, technology powerhouse Hewlett Packard and the Newcastle Building Society. Public sector employers like the Department of Work and Pensions and the North Tyneside Council also operate from the site.
Accenture’s global revenues for the 12 months before the end of August 2011 were worth roughly £16.35 billion, and it serves clients in as many as 120 countries worldwide.
For its part, BNP Paribas has a considerable presence in the northeast of England. A report from the firm in October last year suggested that supplies of prime office space to rent in central Newcastle were running low in the second half of 2011.
Editor’s votes: As of June 2024, Accenture was still based at 2 Quick Silver Way in Cobalt Business Park,
Flexible office space provider Regus is also located at Cobalt Business Park and offers agile alternatives to leased office space in the form of private serviced offices and co-working spaces held on flexible short-term licences that offer the option to extend terms and expand into larger spaces as business needs require.
Accenture’s global revenue in 2023 was £50.52 billion and employed 733,000 people.