£8.5m investment into North East business parks reflects “confidence” in region

Four new industrial units are taking shape at two of the region’s major business parks, all set to open by summer.

A 35,000 sq ft speculative industrial building is under construction on Eighth Avenue East in Team Valley, while three smaller buildings ranging from 8,000 to 20,000 sq ft, designed for the same use, will also be marketed in Teesside Estate, as UK Land Estates (UKLE) continues to invest in the North East.

The buildings, all of which are due to be completed by the end of May, represent a £8.5m investment by UKLE, enabling the firm to offer “much-needed” accommodation to companies looking for high spec manufacturing or distribution facilities.

The units will stand on the established Team Valley and Teesside developments, already home to a range of businesses spanning industrial and manufacturing to retail and professional services.

Tim Witty, development director at UKLE, commented: “We are always pleased to come forward with developments that enhance our business parks and bring a new offer to the market in the North East, which reflects the confidence and optimism that we still feel is very strong in the area.

“High specification new-builds, that are able to offer a level of efficiency that simply cannot be matched in refurbished accommodation, teamed with the many advantages of being based on our parks, from the excellent transport links we boast to the ecosystems we create, mean that we’re confident of attracting interest and investment in these new spaces.”

The units are all being developed for the same use, and each has the capability of operating at zero carbon emissions thanks to in-built power sources, as well as highly efficient lighting and heating.

Tim added: “We’re working hard to drive down carbon emissions across our estates, be that through working with businesses on the park to retrofit their buildings or ensuring that the new developments we bring forward are as efficient as possible.”

Team Valley Trading Estates is already home to over 700 businesses employing over 20,000 people, while Teesside Estate is already a well-established industrial location, covering around 300 acres.

By Matthew Neville – Senior Correspondent, Bdaily