A DEAL to make a North-East business park the biggest of its kind in the UK has been announced.
Cobalt Business Park, North Tyneside, is set to become the largest office park in the country, after buying a further 40 acres of land from its next door neighbour, electronics manufacturer Atmel.
The park is expected to be home to up to 17,000 workers when it is fully developed.
The deal, funded by the Royal Bank of Scotland, will extend the site to 130 acres, an asset of 2,250,000sq ft - worth £500m.
So far, about 500,000sq ft of the park is occupied, including sites for Orange, Fujitsu, and Procter and Gamble.
Guy Marsden, director of Highbridge Business Park which operates the site, said: "The extension of the site has been a long held aim for Highbridge and underlines our commitment to the site and the region as a whole.
Chris Morgan, Mayor of North Tyneside, said: "The borough prides itself on attracting high quality investment and jobs into the region.
"Our partners are once again showing their entrepreneurial skills and we are delighted to be a in position to support them."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article