A North East pharmaceutical firm which was acquired two years ago has become the latest tenant to take up space at the North East’s largest business park.
Founded in 2004, Aesica Pharmaceutical was sold to Consort Medical plc (Consort) in 2014, an international healthcare company listed on the London Stock Exchange for £230m.
The acquisition has led to the head office relocating from Quorum Business Park to Hemel Hempstead, and the firm’s North East office operations have moved to a new suite at Cobalt Business Park in deal brokered by BNP Paribas Real Estate.
Aesica Pharmaceutical has signed up for a 3,500 sq ft suite in Cobalt Business Park’s Cobalt 3.2 building, a refurbished three-storey office building opposite Cobalt Central in the heart of the park.
John Withey, Aesica divisional finance director said: “At Aesica, we are delighted to marry up appropriate facilities and resources with the precise needs of our skilled personnel. We believe that the purpose built offices in Cobalt Park are perfect for our requirements.”
Raj Sehgal, director at Union Properties Ltd which owns the Cobalt 3.2 building, said: “We are delighted that Aesica Pharmaceutical has chosen Cobalt to support their future business.
“The letting follows the recent disposal of space to Perfect Image last year and further illustrates the good demand for refurbished space.”
Aidan Baker, director of agency, BNP Paribas Real Estate, the letting agent for the scheme and broker of the deal, added: “This deal adds to a very successful term working on Cobalt and follows swiftly on from the recent lettings to Accenture and Leeds Building Society.
“Cobalt’s scheme quality and transport links, coupled to access to a full range of amenities, has led to the unrivalled take-up and clearly proves the location is a major success story for North Tyneside and the Region as a whole.
“As park occupancy increases to approximately 90% Cobalt 3.2 has a limited amount of space remaining and can still accommodate requirements from 6,500 – 17,000 sq ft.”