Citrus squeezes additional £75m funding for Integra 61 Durham development
Citrus Durham has secured £75m funding to enable the speculative development of circa 650,000 sq ft of new industrial space, to be known as Connect, at the Integra 61 mixed-use project at J61 of the A1(M), Durham.
Connect will comprise a 342,000 sq ft industrial and logistics development of four ‘high quality’ units ranging from 43,000 to 152,000 sq ft. In addition, a 298,000 sq ft stand-alone, 15 metre high bay industrial/warehouse unit will be delivered on an adjacent plot.
Avison Young and Colliers acted for Citrus Durham on the funding. Avison Young and CBRE will be marketing the new units to potential occupiers, helping to meet the demand for high quality new build industrial/warehouse accommodation in the region.
GMI Construction has been appointed as contractor for the build and work has started on site with the Connect units ready for occupation in summer next year.
The “acute shortages” of high-quality modern logistics/industrial supply in the North East have been analysed by the Citrus team and the units have been sized to satisfy the growing regional demand for units in this range.
Integra 61 is one of the North East’s most “significant” regeneration projects with outline consent in place for over 3 million sq ft of employment space with the potential to create some 4,000 jobs.
Already home to Amazon’s 2m sq ft Fulfilment Centre, occupiers can choose design and build packages for units to meet their specific requirements, and this speculative phase of development will satisfy those companies looking for space that is already under construction.
David Cullingford, project lead for Integra 61 and Citrus, commented: “The funding will accelerate delivery of the next phase of development at Integra 61. 2022 is proving to be an exciting year with lots of activity on-site and we are looking forward to delivering these new speculative units as quickly as possible.
“We have a real opportunity here to make a significant contribution to the regional pipeline for industrial/logistics accommodation and to ease the well-documented shortages in the North East.
“This is a thriving region with a superb workforce and businesses and we hope to bring more jobs and opportunities with this next multi-million pound investment at Integra 61.”
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