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Cobalt 13A The Silverlink N 30,165 SF 51% Leased 4-Star Office Building Newcastle Upon Tyne NE27 0QJ $2,671,689 ($88.57/SF)
INVESTMENT HIGHLIGHTS
- The nearest metro, Northumberland Park, is only 3 mins ride on the 19 shuttle service and a pleasant 10 min walk away on a dedicated traffic free rout
- Nearly 1000 buses servicing the area daily
- Excellent connection from Northumberland Park and Percy Main Interchange
EXECUTIVE SUMMARY
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.
Grade A office building providing 30,165 sq ft over three storeys Cobalt is the largest office park in the UK comprising 1.618m sq ft of modern accommodation 125 year long leasehold at a peppercorn rent Excellent car parking provision of 1:239 sq ft Air Conditioning Double height feature reception and atrium Outstanding on-site and nearby amenities 3m floor to ceiling height Kitchen facilities Attractive glass façade
PROPERTY FACTS
AMENITIES
- Atrium
- Bus Line
- Raised Floor
- Energy Performance Rating - C
- Direct Elevator Exposure
- Natural Light
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
The large floor plates are designed to provide maximum efficiency of the workspace, creating a stylish working environment that can be delivered to meet an occupiers exact requirement.
The large floor plates are designed to provide maximum efficiency of the workspace, creating a stylish working environment that can be delivered to meet an occupiers exact requirement.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 9,790 SF | Office | Partial Build-Out | Now |
| 2nd Fl-Ste Wing B | 4,985 SF | Office | Partial Build-Out | Now |
1st Floor
| Size |
| 9,790 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Fl-Ste Wing B
| Size |
| 4,985 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
1st Floor
| Size | 9,790 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
The large floor plates are designed to provide maximum efficiency of the workspace, creating a stylish working environment that can be delivered to meet an occupiers exact requirement.
2nd Fl-Ste Wing B
| Size | 4,985 SF |
| Space Use | Office |
| Condition | Partial Build-Out |
| Available | Now |
The large floor plates are designed to provide maximum efficiency of the workspace, creating a stylish working environment that can be delivered to meet an occupiers exact requirement.
Presented by
Cobalt 13A | The Silverlink N
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