Growth is the name of the game for Cobalt Park

January 21 2015 Growth is the name of the game for Cobalt Park

Highbridge Business Park Ltd, developers of Cobalt Park in North Tyneside, let more space in 2014 than any other business park in the UK.

Cobalt, the largest office park in the UK, will provide 2.5 million sq ft of office space when complete. 

Letting activity at Cobalt in 2014 has underlined the popularity of Cobalt Park with employers by letting 185,000sq ft in the year.

Lettings include the biggest office leasing deal in the North East since 2009 of 78,000sq ft to Utilitywise,40,000sq ft to Siemens, 25,000sq ft to HP, 10,000sq ft to Accenture, 10,000 sq ft to G4S, 11,000sq ft to Perfect Image and 5,000sq ft each to Barnardos and IBM.

These lets add to the already strong tenant line-up at the park which also includes Accenture, Procter & Gamble, Hewlett Packard, EE and Santander to name a few, employing
13,000 staff in total.

The companies have not only chosen the park to relocate their current employees but also as the
premier location for the expansion of their business, brining significant prospects of new employment opportunities within the borough with most heavily recruiting.

Cobalt’s unrivalled transport links have been vital in connecting the region’s workforce to jobs at the site, which claims a recruitment catchment of over a million people. The developers have been proactive in travel planning for staff and bus services are a vital part of the jigsaw.

Recognition that accessibility would be a key factor in attracting investment led to the creation of an on-site travel centre with its own dedicated Travel Team since 2006.

The travel team have been highly successful in helping to develop a comprehensive public transport network, including the flagship

Cobalt Clipper and Route 19 highfrequency bus services.

Aidan Baker, director at BNP Paribas Real Estate, joint letting agent for the scheme, said “The
success of 2014, where Cobalt accounted for approximately a third of total out-of-town take-up, is down to the recognition of occupiers wishing to take advantage of the cost savings associated with occupying the best quality space available in the market coupled with attractive lease terms and unrivalled tenant amenities and public transport options.

“Current inquiry levels are strong and further lettings will be announced in 2015.”

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