The property comprises a 3,892.75 sq m (41,901 sq ft) 3 storey office building, constructed circa 25 years ago.
The layout is a central reception and then East and West wings off the central core. On the ground floor there is an open plan reception area with a small office off, together with two passenger lifts to the upper floors.
There is a mixture of serviced offices and open plan space.
Externally the property includes a large car park to the front and side, with 122 marked spaces on a site of circa 0.19 hectares (0.46 acres). The car spaces are not within the demise but are specified rights to use specific spaces.
Location
The property occupies a prime position on Cobalt Business Park, just 10 minutes east of Newcastle City Centre. Positioned at the junction of the A19 and A1058 Coast Road, it offers unrivalled access to major road networks, including the A1 (5-minute drive).
The park is well-served by public transport, with 458 daily bus services and shuttle buses every 10–15 minutes connecting to Northumberland Park and Percy Main Metro stations (3–10 minute rides). This ensures seamless commuting for staff and clients across the Northeast, with Newcastle’s vibrant city centre just a short drive or Metro ride away.
On the park is a Tesco Express and a Busy Bees Day nursery, while the nearby Silverlink Retail Park (5-minute drive) offers an Odeon cinema, M&S, and dining options. There is also a Village Hotel and a Travel Lodge.
Accommodation
Ground Floor - 14,009 sq ft (1,301.47 sq m)
First Floor - 13,946 sq ft (1,295.63 sq m)
Second Floor - 13,946 sq ft (1,295.63 sq m)
TOTAL - 41,901 sq ft (3,892.75 sq m)
A breakdown of the office suites is available within the data room.
Terms
TENURE - Long leasehold for a term expiring on 20th March 2121 (Title TY440152).
TENANCIES/INCOME - From the combined Serviced Offices Operation and traditional lettings in place the total income is equivalent to £323,000 per annum. For an up to date position please refer to the tenancy schedule which can be downloaded here.
DATA ROOM - Further information regarding the property can be provided on request and subject to the enquiring party entering into the Administrators’ standard form of Non-Disclosure Agreement. Please note all documents provided are for information purposes only and interested parties should not rely on them.
Inter Alia the data room will include:
- Financial Information
- Title and Tenancy Documents
- Planning Documents
- EPC
- Operational Information
- Regulatory and Compliance Information
PRICE - Offers are invited in the region of £2,000,000.
BIDDING PROCESS - Arrangements for submitting final offers will be provided to interested parties in due course.
EPC - The property’s energy rating is B.
VAT - The premises are elected for VAT.
Specification
- Serviced Office Operation
- Excellent strategic location on Cobalt Business Park
- Adjacent to the A19
- Gross income approximately £323,000 per annum