Square One Law supports Highbridge Properties in securing the North East’s largest office leasing deal
Highbridge Properties plc has successfully secured the letting of Cobalt 22, Cobalt Business Park to Utilitywise plc as its new flagship headquarters. The office space comprises of 77,632 sq. ft making this the largest office leasing deal in the North East since 2009.
The move to Cobalt will enable Utilitywise to employ an additional 560 staff in the coming years as the company continues to expand.
Highbridge Properties is one of the country’s leading business park developers. Formed in 1988 as a specialist business park developer, it has an excellent track record of working collaboratively with corporate occupiers and major land owners to deliver value engineered, high quality solutions to property needs.
Adrian Hill, director at Highbridge Properties plc, said: “Being able to attract a North East based plc to our flagship development, Cobalt, is further testament to the quality of our buildings and world class working environment.
He continued: “Utilitywise further enhances the tenant portfolio at the Park joining Procter & Gamble, Hewlett Packard, EE and Santander.”
Commercial law firm Square One Law acted for long standing client, Highbridge Properties on the deal. Property partner Barney Frith said: “We have worked with the Highbridge team for a number of years and it is great to see the continued development of the Cobalt site. It was a pleasure to work on this deal and we look forward to seeing the further growth of both the site and the business.”
Highbridge director Garry Ward said: “We have a strong relationship with Barney and the Square One Law team. We know that we can rely on them to go above and beyond to help us successfully develop the project.”
Adrian Hill continued: “I have known Barney for well over 20 years and I have always found him to be responsive, commercially aware and, of course, a first class property lawyer. Furthermore, and perhaps most importantly Barney is always a pleasure to deal with.”