• Thu. Mar 28th, 2024

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INVESTMENT MANAGEMENT COMPANY WEALTHTEK ACQUIRES SPACE AT COBALT PARK

WealthTek has become the latest business to make the move to Cobalt Business Park as they relocate from their Jesmond premises. The investment management company will occupy the 9,351 sq ft ground floor in the newly refurbished grade A office accommodation at Cobalt 8.

Cobalt, the UK’s largest office park, is positioned in Newcastle upon Tyne and home to 20 major occupiers and spans 2.5 million sq ft of office space. WealthTek moved into their new premises at Cobalt last month and have ambitious growth plans over the next three years which will require a significant increase to their current workforce of 40 staff.

They will join the UK’s largest technology company Sage, who announced their move to Cobalt from Great Park in Gosforth back in 2019 after Cobalt’s developers Highbridge Properties secured the largest out of town letting ever recorded in the North East.

John Dance CEO of WealthTek said, “We are thrilled with our recent move to Cobalt. Our company is preparing for considerable growth over the next three years and Cobalt offers the perfect environment for us to do so with more space to work safely, a wealth of amenities, abundance of outdoor space and sustainable transport links.’’

Guy Marsden, director of Highbridge Properties, developers and part-owners of Cobalt Park, added, “We are delighted to welcome WealthTek to Cobalt, particularly at such an exciting time for this dynamic business. This is an important letting for us and reinforces the growing demand that we are seeing for offices that are based around a live, work, play concept – allowing employees to have more space, both inside and outside the office. Cobalt does exactly that.”

Aiden Baker, director BNP Paribas Real Estate ‘’Occupier requirements post Covid place heavy emphasis on sustainability, wellbeing, and access to open spaces. Cobalt therefore has a lot to offer in the property market. The letting to WealthTek and the move of Sage to Cobalt provides a great indication on the successes of out-of-town office lets going forward.’’