Partner Article

Peterson to offload Redcar premises following UK steel crisis

Prime Redcar industrial space is coming being made available to the market following effects of the UK steel crisis.

The 20,000 sq ft premises, consisting of two factory units spanning 12,492 sq ft and 8,144 sq ft, are currently let by Peterson Engineering Ltd.

Despite supplying the steelmaking industry for more than 35 years, the closure of SSI-UK has led to Peterson seeking smaller premises to continue serving its remaining customers.

Dodds Brown LLP, the Teesside independent commercial property consultants, has been appointed to market the space.

Located on Limerick Road on the Dormanstown Industrial Estate on the western edge of Redcar town centre, other occupiers on the site include Howdens Joinery, Plumb Centre, Budget Tyres and Exhausts and ATS Tyres and Exhausts.

Richard Brown, partner at Dodds Brown, says: “This industrial estate has high occupancy levels, so it’s quite rare for freehold property to become available on this site. The units can be sold separately, or as a whole, to suit the needs of individual purchasers and occupiers. Despite the reason for the sale, we are confident of good interest due to the strong location.”

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