The Cobalt Business Exchange (CBX) a 120,000 sq ft independent serviced office at the Cobalt Business Park in North Tyneside and the CBX Central offices continue to expend their list of tenants in 2014, with new occupiers HP and IBM.
Tenants at CBX have been so impressed by the service and facilities which include a Starbucks coffee shop, restaurant, conference centre and free parking that to date the CBX is 96% occupied, boasting an 88% retention rate, with and average agreement length of circa 27 months.
More than 700 people work in the centres, across a range of companies from one-man businesses to larger organisations such as Duco, Bodycare, Helplink, Capita, SSE, Nalco and Unison, in an environment lends itself to creating a lot of internal trading between the SMEs.
Alistair Maloney at Office Broker Ltd said: “We have placed numerous happy tenants at the Business Exchange all of whom stay within the facility for much longer than average term”
Margaret Robinson, director at Bodycare Clinics said: “CBX from day one provided Bodycare and all staff included in the group with an exemplary service, helping us run effortlessly in the space”
Victoria Hunt, business manager at the Cobalt Business Exchange added: “I think one element for our success is that the CBX is ideally placed for people commuting locally from the coast. We are easily accessible by great road links, being close to the A1, A19 and Tyne Tunnel. A lot of our tenants live locally choosing a base close to home making the daily commute easier.”
“What we offer at Cobalt Business Exchange is high-quality office space, excellent public transport and road access. Based on Cobalt Park our tenants and their staff get added value from the wider Cobalt business community and the exclusive More Cobalt staff benefits that makes it really attractive to businesses.”
CBX Central, the latest addition to the growing CBX brand launched in November 2012, is currently almost fully occupied. Ideally located at Cobalt Central, a retail destination which includes a Tesco Express, Greggs, Navaho Coffee and Chisholms. With the launch of CBX Central there is 5,000 sq ft of available space left across the two centres, meaning that current tenants have space to grow and potential tenants have a number of space options to choose from.