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The North East property business which sealed a multimillion-pound deal to sell Quorum Business Park to new owners has moved into Newcastle city centre.

Broadoak Asset Management was involved in the huge deal to sell 50% of the North Tyneside business park to London-based Shelborn, having managed it for previous owners, the private equity firm Cerberus for many years.

Broadoak operates as a local partner, working with property investors and developers to maximise property value through development management, place making, active asset management and attracting major occupiers.

As the move ended Broadoak’s association with Quorum, it triggered a search for a new home, leading to the business taking up space in Newcastle’s Charlotte Square.

Founder Fergus Trim has also announced two senior hires as the firm looks to work on a number of new projects.

The company has taken on John Seager, who was most recently chief executive of Siglion, the joint venture regeneration partnership in Sunderland. At Siglion, Mr Seager oversaw the masterplanning and start of the £200m regeneration of the city, including the Vaux site, as well as the asset management of a £30m commercial property portfolio.

Before that, he worked with some of the region’s top property companies, spending time in commercial agency in London and Newcastle, and 12 years at º£½ÇÊÓƵ Land Estates, delivering commercial developments across the region as development director.

In addition, Rebecca Morgan has joined from Knight Frank where she was an associate director in the commercial agency and tenant representation team, working on key development projects including the Stephenson Quarter and Newcastle Helix.