The latest phase of Cobalt Park - a project that could generate 2,000 jobs for the region - has been completed.

The three new buildings are Cobalt 1, Cobalt 2 and Cobalt 15a, which are 44,000sq ft, 102,500sq ft and 30,000sq ft respectively. When complete, Cobalt Park will comprise 2.25 million sq ft, and be the largest office park in the country, employing about 20,000 people.

It holds Enterprise Zone status until 2006, which provides financial benefits to occupiers.

The developer, Highbridge Business Park Limited, has built more than 500,000sq ft of offices at Cobalt.

Tenants at the park include Procter and Gamble's Global Business Services Centre, telecommunications company Orange and ICL Fujitsu.

Cobalt will also benefit from the £12m Stephenson Corridor Link, which will run at ten-minute intervals through the park, with travel information provided to individual buildings. Work is also under way on a Metro station at nearby Backworth.

Regional development agency One NorthEast chairwoman Margaret Fay put the finishing touches to work on the three office buildings by fitting a glazing cap to curtain walling.

She said: "It is particularly pleasing to see that there is already considerable interest from potential occupiers for these high quality buildings."

Published: 06/04/2004