© Copyright Acquisition International 2026 - All Rights Reserved.

Article Image - Castel Commercial Property Fund Clinches Cobalt Deal
Posted 16th October 2015

Castel Commercial Property Fund Clinches Cobalt Deal

The Castel Commercial Property Fund - acting on advice of Aston Property Ventures Limited - has acquired a 30,000sqft office building at the UK's largest office park in a £4.91million deal.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Castel Commercial Property Fund Clinches Cobalt Deal

Castel Commercial Property Fund Clinches Cobalt Deal

Image

The Castel Commercial Property Fund – acting on advice of Aston Property Ventures Limited – has acquired a 30,000sqft office building at the UK’s largest office park in a £4.91million deal.

Situated near Newcastle-upon-Tyne’s city centre and airport, the property is Cobalt 13a, which comprises a modern, high-specification office building constructed in 2008. The building is a multi-let property currently with three tenants: Barnardos; Det Norske Veritas GL and Balfour Beattie Group along with one unit available for lease.

Commenting on the deal, Tim Keig from Aston Property Ventures said: “For us this was an attractive deal to acquire a Grade A office building at a very attractive entry yield, in one of the UK’s most successful business parks. 

The location is becoming increasingly popular with occupiers in the region due to the supply constraints and costs associated with city centre space. What’s more, the region is booming. With the current political focus on the north of England, and the can-do attitude of our northern cities, the park is a great place to do business.

For the fund, we’re confident this will be a high-yielding office investment with opportunity for additional value creation through strategic lease repositioning and filling the vacant suite.”

Cobalt 13a extends to 30,406 sqft over the ground and two upper floors, with an L-shaped configuration and floor-to-ceiling glass on all sides, offering excellent natural light. Additionally, there is excellent onsite car parking provisions, air conditioning and good accessibility with lifts.

Cobalt Real Estate was the vendor in the transaction and was advised by Farrer & Co. Shoosmiths provided legal advice to the purchaser and Lexicon Cole acted as agents.

Categories: Finance, M&A, Strategy


You Might Also Like
Read Full PostRead - Eye Icon
Business Process Automation in a Nutshell
Innovation
21/10/2022Business Process Automation in a Nutshell

No matter what your organization does, one thing is for sure: it executes hundreds of processes daily. For example, if you work in Finance, there are specific processes related to your market. Moreover, each department inside your organization runs different p

Read Full PostRead - Eye Icon
Grant Thornton UK LLP Advise on Safestay’s Acquisition of Smart City Hostel
Legal
27/08/2015Grant Thornton UK LLP Advise on Safestay’s Acquisition of Smart City Hostel

Grant Thornton UK LLP Advise on Safestay's Acquisition of Smart City Hostel

Read Full PostRead - Eye Icon
Can You Pay to Have Your Credit Fixed?
Finance
06/12/2021Can You Pay to Have Your Credit Fixed?

Many companies claim they can "repair" or "fix" your credit. And yes, some of these types of services are scams. Moreover, you can do it yourself for free if you’re willing to put in the time and effort.

Read Full PostRead - Eye Icon
What is harder: accounting or finance?
News
26/01/2022What is harder: accounting or finance?

The career paths that you can join on the basis of a finance degree or an accounting degree can both be rewarding and lucrative with a great deal of job security, so if you are torn between which one you should be studying, the determination could come down to

Read Full PostRead - Eye Icon
Strategic Cleaning: Enhancing Health, Morale, And Profits
Corporate Social Responsibility
30/08/2023Strategic Cleaning: Enhancing Health, Morale, And Profits

As a business owner, you want your company to succeed in every aspect, and one often overlooked area is the cleanliness of your workspace. A clean office serves as a reflection of your company's values and professionalism.

Read Full PostRead - Eye Icon
The Global Tax [r]Evolution
Finance
14/10/2015The Global Tax [r]Evolution

One of the consequences of operating in an increasingly globalised and digitalised world, is that borders blur and taxing rights between countries become a hotly contested topic.

Read Full PostRead - Eye Icon
Government Creates New Business to Save Up to £105 Million in IT Costs
Strategy
20/03/2015Government Creates New Business to Save Up to £105 Million in IT Costs

A new joint venture business has been created to host government computer servers.Crown Hosting Data Centres is a new joint venture between the government and the SME Ark Data Centres Limited, and will provide public bodies with a physical space to host their

Read Full PostRead - Eye Icon
We Have All the Time in the World
Innovation
29/09/2016We Have All the Time in the World

ELF Productivity Ltd, is a privately owned, UK based software and technology house.

Read Full PostRead - Eye Icon
How can Working with a same day Courier Benefit your Business?
News
04/07/2022How can Working with a same day Courier Benefit your Business?

To the vast majority, employing a same-day courier to transport your parcels may seem like a luxury that is unnecessary in most circumstances. Why hire a dedicated vehicle to deliver your business’ goods instead of opting for a cheaper alternative? However,



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow