The North East


Commercial Property Investment Fund creates New Commercial Space and Jobs in North East England


In 2020, a new pilot commercial property investment fund was launched in the North East to help improve the availability and quality of commercial property across the region.


The pilot scheme - funded by the Government’s Getting Building Fund - enabled several projects to be delivered as the region emerged from the covid pandemic, including on the AirView Park Enterprise Zone, which is located next to Newcastle International Airport. Here, two new state-of-the- art flexible workspace buildings have been built, with one remaining unit to let. The success of the development has encouraged plans for phase two of Airview Park to be brought forward.


In Newcastle City Centre, the redevelopment of Grade II listed Portland House has created 60,000 sq. ft of sustainable workplace. The refurbished building boasts a series of green initiatives, including carbon neutral flooring, LED lighting with motion sensors, and electric charge points.


In Sunderland, an £850,000 investment has helped transform the former Gilbridge Police Station into brand new, multi-use office accommodation. Renamed The Yard, the new building provides high quality workspace for SMEs looking to grow their businesses in Sunderland, helping to create a thriving community of local companies.


And at the Tyne Tunnel Trading Estate in North Shields, a new £4.5m building opened in 2022 -


providing 48,666 sq ft of high quality industrial space - is now occupied by Bergen Logistics. The building has achieved an ‘A’-rated Energy Performance Certificate (EPC) and roof installed photovoltaic (PV) panels provide a source of green energy for its tenant.


Building on the pilot phase, in January 2023 the North East Local Enterprise Partnership appointed FW Capital to manage a £35m follow-on North East Commercial Property Investment Fund with the aim to create 140,000m of new commercial space in the North East LEP area and 5,600 jobs.


Helen Golighty OBE, Chief Executive of the North East Local Enterprise Partnership, said: “The North East Commercial Property Investment Fund (CPIF) was established to address market failures and to help increase the stock of Grade A, sustainable commercial buildings in the region.


“Despite the changes to the traditional workplace brought about by the coronavirus pandemic, there remains demand for flexible, iconic and environmentally-friendly employment and manufacturing sites. Because of the investments we’ve made in the North East through CPIF, we’re growing the business base in the region, attracting more private sector investment, and creating more and better jobs for the people of the North East.”


To find out more about the North East Commercial Property Investment Fund, visit fwcapital.co.uk.


Teesside Airport’s Soaring as Work Ramps up on Business Park


The first building in the next phase of Teesside Airport’s business park transformation will be complete by the beginning of 2024 – bringing state-of-the-art facilities for firms looking to relocate or expand.


Teesside International Airport Business Park is an 818-acre world-class business destination, providing unique airside access at the heart of one of the UK’s largest and most integrated industrial economies.


Demand is high at the 300,000sq ft Business Park North, housing more than 40 occupants. These include FedEx, Willis and Draken, who have all recently invested to expand. This part of the site benefits from existing infrastructure and services, accelerating build time and simplifying planning procedures. Plots are currently available and primed for development.


When complete, Business Park South will total 2.8million sq. ft of logistics, distribution, and industrial


buildings, one of the largest such


developments in the region. Steelwork on the first 22,658sq ft unit is now in place, alongside a new 1.5km link road connecting the business park with the A67, A66 and A19 – both set for early 2024.


This will be followed by four new premises along a central boulevard, which can split into up to ten smaller units, covering up to 130,000 sq ft. Subsequent phases will see plots between one and 200 acres developed. All units have airside


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access potential and the development is already garnering interest from aviation, defence, low carbon and process engineering companies.


Teesside Airport also forms part of the Teesside Freeport. Qualifying


companies within the


Freeport’s customs zones will receive tariff benefits, including duty deferral while goods remain on- site. They can also suspend import VAT on goods entering the customs zone and manufacture goods using the imports and add value, before exporting to international markets, without ever paying the full tariff on the original goods.


The airport’s Cargo Handling Facility has also celebrated its first birthday with its best week for business. The £2.5million facility provides cutting- edge screening technology, plus handling, freight forwarding, customs clearage and storage, ideal for companies wishing to export or import.


Colliers, who are marketing the development alongside Dodds Brown, has identified a UK- wide shortage


of aviation hangarage and


premises with airside access. Will Cummock of Colliers commented that the Teesside Airport development can address this, and notes interest particularly from operators based in the south of England where operating aerodrome facilities are fast disappearing.


Whether it’s firms, flights or freight, the sky’s the limit for your business at Teesside Airport. Visit www.teessideinternational.com/business


Property Expert to Lead Firm’s Teesside expansion


Bradley Hall has appointed a new director to head up its Tees Valley operation.


Joseph I’Anson has been appointed as the director of Bradley Hall Teesside, a decade after joining the business. I’Anson, who studied estate management at Northumbria University, first joined Bradley Hall as a graduate surveyor in June 2013.


Since then, he has gone on to climb the ranks, going from chartered surveyor to associate director, and is now set to take on his biggest role to date.


He said: “I am incredibly proud to have been appointed as the new director of Bradley Hall Teesside. As someone who has lived and studied in the region my whole life, I have seen first-hand how the area has been transformed over the past decade. Traditionally, the region’s engineering, energy and chemicals industries have been the area’s economic bedrock, and while that remains the case today, significant developments


such as Teesworks and


TeesAMP are heralding the beginning of a new dawn for the area.


“Already, we’ve seen BP, SeAH and SABIC invest heavily in the green industries of tomorrow and this is having a huge knock- on effect for the wider region, with demand for quality housing and workspace naturally increasing as a result. In fact, each and every week our team are receiving calls from businesses and people seeking to relocate to Tees Valley, so I’m extremely excited to have been appointed to head up our Teesside operation as we continue to increase our presence in the region.”


Bradley Hall opened its first Teesside office in 2021 with the aim of ‘helping attract businesses to the area and market homes for local people.’


Joseph added: “It’s been just over two years since the opening of our first, dedicated Tees Valley office and it’s great to see how well the team has done to lay the foundations for growth and going above and beyond to service existing clients. As a Teessider myself, it is very exciting to see the fantastic work being done across Tees Valley to help reposition the region as a real Northern Powerhouse punching well above its weight and Bradley Hall and I are proud to be helping to fly the flag for the area.”


Neil Hart, chief executive of Bradley Hall, also joined Bradley Hall as an estate management graduate from Northumbria University.


Speaking about Joseph’s promotion, he said: “We are delighted that Joseph has accepted the offer to head up our Teesside office. Since opening its doors two years ago, the branch has proven a huge success and I have no doubt that with Joseph at the helm it will continue to go from strength to strength as we look to the future.”


COMMERCIAL PROPERTY MONTHLY 2023


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