| the north east
MERCHANT PARK PRIMED FOR DELIVERY
T
here are only a handful of development sites throughout the whole North East region which are genuinely ‘oven ready’ for development. Merchant Park in County Durham, part of the wider Aycliffe Business Park, is one of them.
The 100 acre site has three
development plots remaining, ranging in size from 3.5 acres to 17 acres, all set around an attractive central corridor of water features, trees and landscaping. The aim is to provide a green business park environment for employees, rather than the sterile industrial estate landscape usually associated with B1, B2 and B8 buildings.
The location would be ideally suited for manufacturing which typically has a higher office content and potentially an element of R&D, design or a head office function. Close proximity to J59 of the A1(M)
makes the location equally suitable for B8 warehousing. This has been endorsed by Lidl, who recently extended their warehouse up to 430,000 sq.ft on the site adjacent to Merchant Park.
BIG SHED FOR DURHAM
on Meadowfield Avenue in Spennymoor is one of the biggest industrial properties available in the North East.
A Industrial property specialists, HTA
Real Estate, have been appointed as regional agent alongside national advisor, GL Hearn, to market the former Berco (UK) Ltd factory, which is available on a leasehold basis. Nick Atkinson, director at HTA Real
Estate said: “This is a rare opportunity given the current shortage of big sheds in the North East, we are only aware of one other comparable unit of this size on the market in the region, and there remains only a handful of sheds over the 100,000 sq.ft mark.”
“The high bay property benefits from
an eaves height in excess of 10m, dock level loading doors and level access, two overhead cranes and a high quality office facility. It would be ideal for a third party logistics company with a contract-led requirement due to the flexible nature of the lease. However it could also suit a variety of uses from engineering with the cranes to warehousing because of the height and close proximity to J61 of the A1(M).”
58
big shed has come to the market in Durham, the 150,000 sq.ft warehouse
The location would be
ideally suited for manufacturing which typically has a higher office content and potentially an element of R&D, design or a head office function.
Enquiries have been predominantly from the immediate Aycliffe Business Park which is home to a number of successful expanding companies. The scale of the site and demographic profile of the region also appeals to companies from further afield looking for an opportunity to consolidate
AUCKLAND CASTLE
Shipway, has recently completed its work as project manager, quantity surveyor and mechanical and electrical engineers to the £27 million Eleven Arches development in the grounds of Auckland Castle in County Durham.
N Inspired by the Puy du Fou project in
France, this groundbreaking scheme has transformed the former Eleven Arches golf club in Bishop Auckland into a world class open-air venue for historically themed night shows - the largest open-air performances since the Olympic opening ceremony in 2012. The site now includes a seven and a half acre stage, an 8,000-seat grandstand and 1,800-space visitor car park, as well as staff and coach parking, stabling for the horses used in the show and ancillary buildings. Backed by local philanthropist, Jonathan Ruffer, the scheme forms part of a wider programme of regeneration- through-heritage in the area which aims to celebrate the North East’s history. David Stevenson, Managing Director at
Edmond Shipway, said: “It promises to be an incredible tourist attraction that will pull in nearly 200,000 visitors and millions of pounds every year.”
ottingham based multi-disciplinary construction consultancy, Edmond
Following the opening of Hitachi Rail
Europe’s 465,000 sq.ft factory on Merchant Park in September 2015, there has been a steady stream of enquiries for new buildings from 30,000 sq.ft up to 300,000 sq.ft.
multiple buildings under one roof. Merchant Park is being marketed by regional industrial specialists HTA Real Estate and global agent CBRE. Nick Atkinson, Director at HTA Real Estate comments: “Aycliffe Business Park is now the largest industrial estate in the North East and it has seen a real renaissance in the last 10 years. As a result, businesses can’t find existing buildings to suit their needs, therefore new build enquiries are gathering pace rapidly.” He adds: “Having a fully serviced site reduces the delivery time by many months compared to alternative greenfield sites.” Adrian Goodall, Development Manager for the site owners, said: “The cost of new build is high, but provided the tenant commits to a lease of at least 10 years, we can offer very competitive lease terms.” Dave Cato of CBRE said: “The majority of enquiries have been very specific to Aycliffe Business Park which underlines the demand for this location, both from existing occupiers and inward investment into the region.”
tenants following sustained investment. BDA NightExpress, and Strictly Green Hydroponics are all taking space on the site. Bespoke Distribution Aviation (BDA) is new to the North East and provides commercial delivery services by road and air.
Strictly Green Hydroponics have
relocated from the nearby Evans Easyspace into a 1,500 square foot unit at Morton Park.
The arrival of the new tenants
coincides with significant, ongoing investment at the business park, which was acquired at the end of 2015 by property firm Rockspring in partnership with industrial asset specialist Caisson Investment Management. A six figure refurbishment programme is ongoing. James Ward, Partner at Caisson
Investment Management, said “Our strategy of refurbishing units and improving the estate in general is proving to be the right one.” Many of the park’s vacant units are
now under offer to a combination of new occupiers to the estate as well as existing tenants, who continue to expand.
COMMERCIAL PROPERTY MONTHLY 2016
MORTON PARK WAY M
orton Park Way Business Park, Darlington, has welcomed two new
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