| the north east
NEW BOUTIQUE CINEMA AT MILBURNGATE T
he developers of Milburngate in Durham City have exchanged contracts
with Everyman Group for a new boutique cinema that will form a significant element of its major riverside regeneration scheme. Expected to open in 2019, the three- screen, 384-seat Everyman Cinema will become an anchor tenant at Milburngate, a development that will feature a high quality mix of homes, offices, restaurants and bars. In addition to the 13,242 sq.ft. cinema, Milburngate will feature 11 leisure units ranging from 2,120 sq.ft. to 7,189 sq.ft. The development consortium, which includes Carillion, Arlington Real Estate and Richardsons Capital LLP, is also in advanced discussions with a number of premium restaurant and bar operators, who like Everyman are keen to secure space within high quality schemes such as Milburngate. Neil McMillan, Development Director at Carillion, said: “This agreement confirms our vision for Milburngate meets the aspirations of premium leisure operators. Everyman Cinema’s high quality boutique offering will attract visitors to Durham from across the North East and enhance the city’s position as a key destination in the region.” Durham City will see the first Everyman
FORMER STATELY HOME ON THE MARKET
Cinema opening the North East of England. The company currently has 16 sites across the UK with a further six boutique cinemas planned to open in the next 24 months. In addition to showing the latest cinema
releases, Everyman offer a programme of films and special events including film festivals, seasons and live Q&As. The venues each feature unique and stylish cinema seating, a fully-licenced bar, food, table service and digital projection and surround sound technology. Crispin Lilly, CEO at Everyman, said:
“We're delighted to announce our plans for the arrival of a new Everyman at Milburngate. We're excited to become a destination for the local community to indulge in a great night out. Our venues are intimate spaces that offer a diverse range of film and events for all our guests along with great food and drink. We look forward to opening the doors in 2019." The agreement precedes the submission of a planning application, this month, to Durham County Council for the development of the 5.3-acre site, which previously included the offices of Her Majesty’s Passport Office and National Savings and Investments.
DOUBLE DEAL IN DURHAM
TA Real Estate has brokered two deals in County Durham, facilitating the expansion of two North East businesses. The Newcastle-based industrial specialists have let a 9,000sq.ft unit at Admiral Point in Seaham to General Paint UK on behalf of developers, Jomast, who have recently refurbished the premises.
H The paint distribution company, which imports paint from
Lebanon and supplies to the UK automotive industry, has committed to a 5 year lease on the unit, which is double the size of its former property.
The firm has undergone significant growth over the past year with the business expanding by over 25%. Dean Royal, CEO at General Paint UK said: “Due to the business’ rapid expansion we had outgrown our former premises and needed to find larger, modern warehouse space to become our new centralised distribution hub. We are delighted with the new building at Admiral Point, which benefits from close proximity to the A19 for our distribution channels.” HTA has also acquired a 10 year lease on a 24,000sq.ft unit on
Stephenson Road in Washington on behalf of TKT Cosyfoam, which is relocating from smaller premises in Houghton-le-Spring. TKT, which specialises in foam conversion, supplies large furniture manufacturers and packaging companies with ready cut foam. The firm, which employs 48 staff, is fitting out the unit ready for occupation and creating a 2,500sq.ft mezzanine floor to increase the space. It has also made a significant investment in new foam cutting machinery with grant assistance from the regional Let’s Grow fund, which it hopes will lead to more business and further expansion. Michael Johnson, managing director at TKT Cosy Foam said:
“It has taken two years to find the right premises, which we couldn’t have done without HTA’s help.”
68 T
he beautiful Grade II Listed Shotley Park Residential Home, located in Shotley Bridge, Consett, County Durham is being offered for sale by specialist property adviser, Christie & Co. The property is a former stately home which was built in 1842 by the Richardson family. It was later used as a Barnado’s children’s home before being sold to the current owners in 1986 when it was converted into a care home. The home is set in landscaped gardens and surrounded by open countryside. It has south facing lounges and dining rooms and even though the extensive accommodation has been adapted to suit the needs of the residents, the character of the building has been maintained. Approximately 15 acres of parkland surround the property and this is available to purchase by separate negotiation. The site currently has planning permission for a new purpose- built care home as well as for the conversion of the existing building to retirement flats. However, the owners are prepared to look at all options and would welcome the opportunity to discuss ideas.
DURHAM SHED GIVEN GREEN LIGHT
lans to transform a 200-acre site at J61 of the A1(M) in County Durham into a prime industrial and logistics hub have been unanimously approved by Durham County Council. Developer, Citrus Durham Ltd, has received outline planning permission for Integra 61, a mixed-use commercial scheme which will include up to 2m sq.ft of employment space comprising large industrial and distribution units, a 70-bedroom hotel, a residential care home, restaurants, a GP surgery, retail units and up to 270 new homes along its boundaries closest to Bowburn village. Citrus has appointed North East property consultants, Naylors as joint letting agent alongside national agent, Avison Young on the commercial development, which it believes could generate 4,000 jobs and add almost £2bn to the region’s economy in its first ten years.
P David Cullingford, development manager at Citrus said: "We
have worked incredibly hard over the past two years alongside the officers of the Council and other stakeholders to produce a high quality masterplan that will create a first class environment for businesses and residents alike." "Our aim is simple: to see Integra 61 become the premier industrial and logistics location in the North East, with the ability to satisfy the large-scale requirements of major national and multi- national companies.” Keith Stewart, head of industrial agency at Naylors added: “We
are very excited to have been appointed alongside Avison Young to market Integra 61, which is set to become one of the largest developments of its kind in the North East. The scheme has the capacity to accommodate individual units of up to 1 million sq ft, making it ideal for occupiers with large space requirements and addressing the region’s severe shortage of big sheds.” Citrus aims to commence the infrastructure works in early 2017 with the first units available for occupation from Autumn 2017.
COMMERCIAL PROPERTY MONTHLY 2016
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