Siemens signs five-year deal to lease space at Cobalt Park in North Tyneside

Global energy giant Siemens becomes the latest big name tenant to take up space at Cobalt Park in North Tyneside

Frank Lott of North Tyneside Council, Richard Luijendijk of Siemens Service Renewables UK&I and Aidan Baker of BNP Paribas Real Estate

International energy giant Siemens is moving 200 staff members into Cobalt Park after the firm signed a five-year lease to rent significant office space.

Highbridge Business Park Ltd, advised by BNP Paribas Real Estate and Cushman & Wakefield, has let 39,200 sq ft of offices at the North Tyneside business park to Siemens Plc.

The ground, first and second floor office accommodation at Cobalt 9B has been taken by Siemens on a new five-year lease.
Cobalt Park is the largest office park in the UK and when complete will provide 2.5 million sq ft of office space.

Siemens has recruited over 350 new people to support its Newcastle-based Wind Service business this year and has a total of about 1,000 employees. Around 200 of those employees will move in to the new Cobalt facility.

The firm also has space for 50 more new recruits.

Guy Marsden of Highbridge said: “This is an important transaction, not just for Cobalt Park, but also for the North East as Siemens has the option to expand into a further 13,000sqft within the building, bringing prospects of new employment opportunities to the area.

“Letting activity at Cobalt for the first six months of 2014 has underlined the popularity of Cobalt Park with employers with 145,000sqft let already this year.

“This deal increases take-up to 185,000sqft, including the lettings of 78,000sqft to Utilitywise, 25,000sqft to HP, 10,000sqft to Accenture, 10,000sqft to G4S, 11,000sqft to Perfect Image and 5,000sqft each to Barnardos and IBM.”

Richard Luijendijk, managing director of Siemens Service Renewables UK&I, said: “We are delighted to be here today to celebrate the move of Siemens Renewables Service business to the Cobalt Park facility in North Tyneside.

“It is a very exciting day for all our employees in the wind service business. The state-of-the-art facility will be home to our new Customer Support Centre that will enable us to comprehensively service our customer needs.

“Together with our world class training facility at Shields Road, Newcastle, the new facility represents a significant investment in the region, the wind business and our employees.”

Coun Frank Lott, North Tyneside Council’s cabinet member responsible for economic development, said: “It’s a major coup for North Tyneside that Siemens has chosen to locate its Customer Support Centre at Cobalt bringing more jobs to the borough.
“North Tyneside Council is absolutely committed to supporting businesses and creating jobs.

“Companies know that the borough has so much to offer with its purpose-built offices, great transport links, excellent business team expertise and, of course, a highly skilled, reliable and loyal workforce. It’s very clear that North Tyneside is now the place to be for business.”

Aidan Baker, director of agency at BNP Paribas Real Estate in Newcastle, said: “The strong letting activity at Cobalt is testament to Highbridge and the excellent product developed over the past few years.

“Siemens will join a stellar line up of tenants on the park including Proctor & Gamble, HP, Accenture and Santander.”
Jeff Pearey of JLL’s Leeds office, who represented Siemens, added: “After conducting a detailed search of the region Cobalt was felt to be the best solution for the expansion of the Siemens business in the North East.”

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