Leeds Building Society acquire the last available building at Cobalt North.

Leeds Building Society becomes the latest big name tenant to take up space at Cobalt Park in North Tyneside, signing a deal to take 20,168 sq ft, the whole of Cobalt 7B.

The deal sees BNP Paribas Real Estate & Highbridge Properties Ltd broker a deal on the last available building in Cobalt North, with park occupancy now being circa 90%, the final 2 buildings available are located in Cobalt South, with Cobalt 23 being the largest available building in the North of England. 

Leeds Building Society has operated from the centre of Leeds since 1886 and the premises at Cobalt will be the Society’s largest office outside Yorkshire.

The move follows recently reported record results for 2015 as the Society celebrated five years of sustained growth, including a strong lending performance above its market share year on year.

Karen Wint, Leeds Building Society’s Chief Operating Officer, said: “The offices at Cobalt will provide more space for our increased workforce.

“Following five years of growth, the Society continues to invest in the long-term future of the business to enable it to help more members to save and have the homes they want.”

Adrian Hill, Director, Highbridge Properties Ltd added “We are delighted that Leeds Building Society has chosen Cobalt –the UK’s largest office park to support the expansion of its business.”

“The deal boosts an already fantastic start to 2016 with Accenture moving into a 57,000 sq ft office at Cobalt this January their third acquisition at the park which adds to other recent lettings totalling of 87,000 sq ft.”

“The fact that 7 major organisations have chosen to expand via the acquisition of additional office space at Cobalt is the best possible endorsement of the scheme’s quality and the strength of its connectivity”.

Aidan Baker, Director of Agency, BNP Paribas Real Estate the joint letting agent for the scheme and broker of the deal added “This deal adds to a very successful term working with Highbridge Properties Ltd, in the 5 years we have been agents for Cobalt we have let over 275,000 sq ft in 12 deals, and we hope the good news stories will continue with 2 building in Cobalt South and development land still available.”
“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. Cobalt has a recruitment catchment of over 1.1 million people and is able to support a wide range of amenity and retailers including one of the country’s most successful Tesco Express stores operating within Cobalt Central. The 12 lettings over the past 2 years have increased Cobalt’s workforce to around 14,000.”

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