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Cobalt 13A, Silver Fox Way

For sale: POA|30,406 Sq Ft|Office, Offices

Property details

FOR SALEPOA
SIZE30,406 Sq Ft
ADDRESSCobalt 13A, Silver Fox Way, Cobalt Park, Newcastle Upon Tyne, NE27 0QJ
TYPEOffice, Offices
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON2nd December 2022

Description

Key Points

  • Cobalt is the largest office park in the UK comprising 1.618m sq ft of modern accommodation
  • Grade A office building comprising 30,406 sq ft on the best business park in the North East
  • Let to Det Norske Veritas. Neutron VR and Reed in Partnership
  • Annual rent of £330,013
  • Excellent car parking provision of 1:239 sq ft
  • Summary

    Cobalt 13A, Modern multi-let office investment extending to 30,406 sq ft.

    Description

    Cobalt 13a is a modern three storey office building providing 2,824.8 sq m (30,406 sq ft).

    The building is centrally located within the northern section of the park.

    The property was constructed in 2007 and provides highly specified office accommodation arranged around a centrally located core, allowing flexibility to split each floor into two wings of approximately 454 sq m (5,000 sq ft) each.

    The property’s specification includes:
    · Double height reception and atrium
    ·Four 13 person passenger lifts
    ·VRF air conditioning
    ·3m clear floor to ceiling height
    ·LG7 lighting
    ·BREEAM ‘Very Good’ rating
    ·127 dedicated car parking spaces providing a ratio of 1:239 sq ft
    ·EPC rating of C:65

    Location

    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.

    Proposal

    Offers in the region of £3,000,000 exclusive of VAT, reflecting a net initial yield of 10.36%, and a capital value of £100 per sq ft assuming standard purchasers’ costs of 6.15%.

    Location

    marker
    Location: Cobalt 13A, Silver Fox Way, Cobalt Park, Newcastle Upon Tyne, NE27 0QJ

    Manors (5.0 miles)

    Heworth (5.1 miles)

    Newcastle (5.5 miles)

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