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Office
Newcastle Upon Tyne, NE27 0QJ

Cobalt 13A

4985 - 14775 sqft
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Cobalt 13A, high yielding modern multi-let office investment extending to 30,406 sq ft.

Cobalt 13a is a modern three storey office building providing 2,802.4 sq m (30,165 sq ft).

Multi-let to Det Norske Veritas, Neutron VR, Microvention and Reed in Partnership.

Excellent covenant strengths with all tenants presenting a minimum or lower than average risk of business failure.

Annual rent of £411,771 equating to a low rent of £16.35 psf.

Strong occupational velocity following the completion of the new letting and re-gear.

Added value through letting the vacant space to increase rental income.

WAULT on let space of 4.07 years to expiry and 2.43 years to break.

125 year long leasehold at a peppercorn rent.

Offers in the region of £2,375,000 reflecting a net initial yield of 16.3% and a capital value of £79 psf, assuming standard purchasers’ costs of 6.36%. The yield will rise to 19.56% on letting of vacant space based on an ERV of £16.50 per sq ft.

Property details

Key features

Grade A office building providing 30,165 sq ft over three storeys
125 year long leasehold at a peppercorn rent
Air Conditioning
Outstanding on-site and nearby amenities
Kitchen facilities
Cobalt is the largest office park in the UK comprising 1.618m sq ft of modern accommodation
Excellent car parking provision of 1:239 sq ft
Double height feature reception and atrium
3m floor to ceiling height
Attractive glass façade

Location

Cobalt 13A, Newcastle Upon Tyne NE27 0QJ
A map that shows the location of the property

Cobalt Park is situated on the junction of the A19 and the A1058 Coast road approximately 10 minutes northeast of Newcastle City Centre. Cobalt 13a is centrally situated on the north section of the park with Accenture and Wealth Tek who occupy the adjacent buildings. Amenities on the Park include a Tesco convenience store, Greggs, Cobalt Coffee and Deli, Eat4less, and a Busy Bees day nursery. Silverlink Retail Park, adjacent to Cobalt Park, provides an excellent retail and leisure offering, including an Odeon cinema, M&S, Next, Currys, Frankie & Benny’s and Pizza Hut. A Village Hotel together with Spa and Gym is located at the northern entrance to Cobalt Park. A new 80 bed Travelodge hotel has also opened at the centre of the park.

Costs and availability

All costs are per annum.
Name
sq ft Size
per sq ft Rent
per sq ft Service charge
per sq ft Rates
Total
Status
Ground - Wing A Fitted out in generic style
Size sq ft
4,955
Rent per sq ft
16.50
Service charge per sq ft
POA
Rates per sq ft
N/A
Total
81,757.50
Status
Let
Ground - Wing B Fitted out in generic style
Size sq ft
4,985
Rent per sq ft
16.50
Service charge per sq ft
POA
Rates per sq ft
N/A
Total
82,252.50
Status
Let
1st Fitted out in generic style
Size sq ft
9,790
Rent per sq ft
16.50
Service charge per sq ft
POA
Rates per sq ft
N/A
Total
161,535
Status
Available
2nd Fitted out in generic style
Size sq ft
5,450
Rent per sq ft
16.50
Service charge per sq ft
POA
Rates per sq ft
N/A
Total
89,925
Status
Let
2nd - Wing B Fitted out in generic style
Size sq ft
4,985
Rent per sq ft
16.50
Service charge per sq ft
POA
Rates per sq ft
N/A
Total
82,252.50
Status
Available

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