the north east |
£350M SCIENCE CENTRAL L
egal & General today announced its plans to partner with Newcastle City Council and Newcastle University, to help build and finance the £350 million Newcastle Science Central development. Science Central will become a major UK hub for scientific research, and technology businesses. The North-East’s new devolution deal creates the opportunity to bring this powerful local vision to life, creating knowledge-based jobs for future generations in Newcastle and extending the Northern Powerhouse to “the North of the North”.
Newcastle Science Central is one of the biggest urban regeneration projects of its kind in the UK. The 24-acre science and technology hub on the former brewery site, famed for brewing Newcastle Brown Ale, is located in Newcastle’s city centre and is set to create over 4,000 jobs, 500,000 sq.ft of office space, and 450 new homes. Legal & General’s initial £65 million investment will deliver over 200,000 sq.ft of Grade A office space, facilitating significant economic growth in the City, and unlocking further investment in commercial and residential opportunities at Science Central. Gordon Aitchison, Director, Investment & Development at LGIM
Real Assets, said: “This partnership with Newcastle City Council and Newcastle University proves the importance of the private and public sector partnerships model in driving forward UK urban regeneration projects. We have been able to provide the necessary capital and skills to bring forward Newcastle Science Central and local government have provided the access and support to create this opportunity. We look forward to working with our new partners on this exciting scheme and attracting further investment into the area.”
Legal & General plans to invest £15 billion in UK infrastructure, direct investments and urban regeneration projects. It has already invested over £7 billion, and is committed to modernising Britain’s great cities as it aims to invest £15 billion.
BILFINGER GVA APPOINTED B
ilfinger GVA has been instructed by the OGN Group to market a former shipyard at Hadrian Road on the north bank
of the River Tyne, Wallsend. The facility which extends to 75 acres (30 hectares) has a 1,000 metre frontage to the River Tyne including an angled loading quay and an in-filled former dry dock. Buildings extending to 440,000 sq. ft. are available on the site including high quality office accommodation in OGN House (which dates from 1890), project offices, high bay fabrication sheds and warehouses. There is also 50 acres (20 hectares) of cleared land available for use in association with the buildings, water frontage or for new development. The site, located approximately 1 mile south east of
Wallsend town centre and 1.5 miles west of the A19 / Tyne Tunnel benefits from three separate access roads direct onto Hadrian Road. The land and premises were previously used for offshore oil platform fabrication by Amec and most recently, the OGN Group. Danny Cramman, Head of Industrial Agency at Bilfinger GVA,
Newcastle who is handling the marketing of the property comments: “The site, premises and extensive waterfront facilities offer a unique product to the market place and are well suited to a range of potential uses including, but not limited to, the offshore sector, general manufacturing, engineering and open storage. Either the whole or parts of the land and buildings are available by way of new leases for a term of years to be agreed”. The site may also be available for sale. For further details email
danny.cramman@
gva.co.uk
COMMERCIAL PROPERTY MONTHLY 2016
NAYLORS LET SUBSTANTIAL BUILDING TO RTC NORTH
N
aylors’ office agency team has completed a 20,000 sq.ft office letting in Sunderland to a leading technology transfer
company. RTC North have
taken a 10 year lease on Loftus House at Sunderland Enterprise Park, and will be relocating from its existing premises at Hylton Park within the coming weeks. Naylors were
instructed to market the property by Helena Biosciences, after acting on their behalf in securing the previous letting at Loftus House to the NHS, who occupied the building for 10 years and vacated in 2014. Simon Taylor, director at Naylors said ‘We are delighted to announce this letting which is a very successful outcome for all of the parties involved. Loftus House is a detached, two-storey office building located within an established business park, providing RTC North with substantial space in which they can expand in the future.’ The company currently delivers government and European funded business support programmes and the new property is double the size of its previous building and will see RTC invest in different phases of development. By July 2016, the company will have completed the ground floor development of a fully equipped ‘Training Zone’ and 150 person theatre style conference space.
Loftus House INVESTMENT PAYS OFF A
£2 million investment in the Tyne Tunnel Trading Estate is paying off for owners UK Land Estates.
Refurbishment work began towards the end of last year and already four companies have relocated to the estate with a fifth due to move in in August, when a further half a dozen units will be completed.
The latest tenant to move in is Nitelites, the audio and lighting
company who are one of the best known and most respected companies in the UK entertainment industry. They have worked at the Leeds Carling Festival, the Great North Run, the Sunderland International Air Show and the BBC Proms as well as for local authorities, bands, venues and event management companies.
Owner Jamie Moore said: “Since Nitelites started in 1983 we have continued to grow. Moving in to an 18,500 sq.ft unit on the Tyne Tunnel estate will allow us to continue with that expansion and we hope to bring more staff on board as well as starting an apprenticeship programme. “The location is great for us, we’ve now got the room to do so much more – and of course the opening of the second Tyne Tunnel has improved accessibility to the estate.”
The biggest unit to be refurbished is nearly 23,500 sq.ft and that was snapped up by D-Line Europe, a North East company with a global reputation for finding innovative ways to hide cables and tidy wires.
They moved from their Seaton Delaval base last month and D-Line founder Paul Ruddick said: “The Tyne Tunnel Trading Estate is now firmly established as a desired location, attracting some of the region’s most dynamic companies. “To assist with our continued expansion, and to support future ambitions, we needed to evolve our working environment for staff and to acquire additional capacity for expected sales growth in coming years.”
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