Highbridge secures £175m to build data centre
24/11/2010

By Daniel Thomas

Highbridge Business Park, the property developer, has secured £175m funding package from a syndicate of private investors to build a large data centre at Cobalt Park in north Tyneside.

The 45,875 sq ft facility will be one of the most advanced in Europe.  Building work on the shell will start later this year and the centre will be ready in March 2010. Cobalt has its own electrical connection directly to the National Grid.

The money has been raised through the Cobalt Data Centre Development Syndicate, a group of investors organised and managed by the tax specialist adviser Chancery Tax. The financing is secured and fully subscribed.