the north east |
BUSINESS OPPORTUNITIES IN NORTH TYNESIDE T
here can be no doubt that North Tyneside punches above its weight when it comes to what it can offer investors and businesses.
The borough boasts a range of key benefits including world class premises, competitive costs and a superb transport infrastructure. Its highly skilled workforce is one of its most important assets, with over one million people living within a 30 minute commute and close to two million people within a 60 minute commute. For a relatively small borough, its business credentials are also particularly impressive; providing over 50 business sites including the UK’s largest office park and two incentivised Enterprise Zone sites. Swans Offshore Energy Park is a £100m investment project which includes 17 hectares of development land, a fully operational deep water quay with heavy load out facilities and access to the North Sea. Enterprise Zone status also provides a simplified planning regime for new buildings.
Located on the same site, the Swans Centre for Innovation (CFI) is home to a range of offshore energy, subsea and marine businesses including Bibby Offshore Ltd, M2Subsea Ltd and Jackson Hogg Recruitment.
The Swans and CFI projects are part financed by the European Regional Development Fund (ERDF), managed by the Department for Communities and Local Government. Further along the river, the Port of
Tyne’s Whitehill Point is a 10 hectare development site located less than 3km from open sea. The site offers direct access to a 105m long quay with a draft of 8.6m. Royal Quays Enterprise Park, also
owned by Port of Tyne, has a large development area of up to 30 hectares. Although this is not a riverside site, it does
Cobalt Park
benefit from being located just to the north of Whitehill Point, allowing easy access to quay facilities.
Both sites have Enterprise Zone status providing enhanced capital allowances and a simplified planning regime. North Tyneside is also home to leading examples of innovative, people-friendly business parks including Quorum which offers one of the most attractive location packages in the country. Over 5,000 people work on the park which is sixty five percent occupied by a range of companies including Tesco Bank, Convergys, Balfour Beatty and Home Group.
Autonomous FM, an independent provider of Facilities Management service, is the latest business to locate to Quorum having transferred its Service Centre from Poland.
Cobalt Park, the largest office development in the UK, offers over two million square feet of office space. The park is now 90 percent occupied and is home to more than 14,000 employees. It is the
location of choice for national and global organisations including Procter & Gamble, Accenture, DXC Technology and Santander. The park’s developer, Highbridge, is also behind Indigo Park which is a new development site capable of
accommodating 1.3 million sq ft of bespoke manufacturing and distribution space with the potential to generate more than 1,000 jobs.
Added to this, the borough provides a number of mixed use business sites including Balliol Business Park which boasts Greggs plc as one of its many tenants. Baby product manufacturer, Tommee Tippee, also recently announced that it will be opening its global headquarters on the park, from which it will drive the next phase of its growth. Tyne Tunnel Trading Estate has attracted companies from a range of key sectors due to its strategic location adjacent to the A19 Tyne Tunnel approach. Current occupiers include Maersk, Soil Machine Dynamics and AIS Training. Pryme Group, which provides
integrated manufacturing solutions to the oil and gas, defence and aerospace industries, will soon be moving into a new state-of-the-art facility on Tyne Tunnel and is expected to be fully operational by the middle of 2018.
For further information on commercial properties in North Tyneside please visit
www.investnorthtyneside.co.uk, contact
sean.collier@
northtyneside.gov.uk or call 0191 643 6409.
Artists impression of Swans Offshore Energy Park COMMERCIAL PROPERTY MONTHLY 2018 53
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