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Cobalt 9c 5 Quick Silver Way 55,803 SF 4-Star Office Building Newcastle Upon Tyne NE27 0QQ $11,533,299 ($206.68/SF) 10.25% Cap Rate
Investment Highlights
- Park is situated 7.3 miles north east of Newcastle
- Surrounded by a number of national and international companies
- Cobalt 9C is ideally positioned in the central section of the business park
- Benefits from an excellent range of on-site facilities
Executive Summary
• Recently re-geared (May 2024) office investment opportunity, with the tenant extending their occupation across all leases
• The property extends to 55,803 sq ft NIA
• Fully-let to Accenture (UK) Limited on leases which expire on 20 December 2035, therefore providing an unexpired term of approximately 10.30 years to expiry
• The leases contain a tenant break option in December 2030
• Let at a low passing rent of £920,748 per annum, equating to just £16.50 per sq ft
• The property has been comprehensively fitted out by the occupier and is operational 7-days a week
• The tenant has a 4A 1 D&B Rating with turnover in excess of £3bn, a pre-tax profit of £123m and a tangible net worth of £17m
• Provides excellent sustainable and environmental credentials, with no reliance on natural gas for heating the building
• Rated EPC A (Oct-33 expiry) and BREEAM ‘Excellent’
• Desirable car parking ratio of 1:241 sq ft with 232 car parking spaces
• The site extends to approximately 3-acres (1.23 hectares)
• Established business park location which continues to attract large blue chip tenants
• Location set to be enhanced by the opening of a new station in 2026 at Northumberland Park Transit Interchange as part of the re-opening of the Northumberland Line, just 5 minutes drive away
• The property extends to 55,803 sq ft NIA
• Fully-let to Accenture (UK) Limited on leases which expire on 20 December 2035, therefore providing an unexpired term of approximately 10.30 years to expiry
• The leases contain a tenant break option in December 2030
• Let at a low passing rent of £920,748 per annum, equating to just £16.50 per sq ft
• The property has been comprehensively fitted out by the occupier and is operational 7-days a week
• The tenant has a 4A 1 D&B Rating with turnover in excess of £3bn, a pre-tax profit of £123m and a tangible net worth of £17m
• Provides excellent sustainable and environmental credentials, with no reliance on natural gas for heating the building
• Rated EPC A (Oct-33 expiry) and BREEAM ‘Excellent’
• Desirable car parking ratio of 1:241 sq ft with 232 car parking spaces
• The site extends to approximately 3-acres (1.23 hectares)
• Established business park location which continues to attract large blue chip tenants
• Location set to be enhanced by the opening of a new station in 2026 at Northumberland Park Transit Interchange as part of the re-opening of the Northumberland Line, just 5 minutes drive away
Property Facts Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
55,803 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2012
Price
$11,533,299
Price Per SF
$206.68
Cap Rate
10.25%
NOI
$1,182,163
Tenancy
Single
Building Height
4 Stories
Typical Floor Size
13,950 SF
Building FAR
0.42
Lot Size
3.08 AC
Parking
232 Spaces (4.16 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Bus Line
- Controlled Access
- Security System
- Signage
- Energy Performance Rating - A
- Reception
- Central Heating
- DDA Compliant
- Demised WC facilities
- High Ceilings
- Direct Elevator Exposure
- Natural Light
- Open-Plan
- Drop Ceiling
- Air Conditioning
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Cobalt 9c | 5 Quick Silver Way
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