| the north east
£140M BUSINESS PARK R
ichardson Barberry has recently been selected as the development partner to deliver a £140 million business park - with more than 1.75 million sq.ft of accommodation - in the North East. Richardson Barberry has signed an agreement as retained development partner with joint venture company Forrest Park Newton Aycliffe Limited for the expansion of Aycliffe Business Park on the 116 acre Forrest Park site with potential to accommodate a rail freight interchange. A planning
Jon Robinson
application for Forrest Park, at County Durham, will be submitted shortly to Durham County Council. The proposals include a range of business, industrial / distribution units varying in size
from 30,000 sq.ft to 500,000 sq.ft, a trade park consisting of 11 units from 5,000 sq.ft to 10,000 sq.ft, and ancillary amenity uses including roadside food offerings / public house and restaurant. Forrest Park – which has attracted £13 million funding from the Local Enterprise
MILBURNGATE
Partnership - could create 3,200 jobs and deliver a gross value added economic boost to the area of £495 million over the next 10 to 15 years. A planning decision is expected later this year.
Jonathan Robinson, Barberry Developments director, said: “We are very pleased to have been selected as development partner for this prestigious project and we are excited at the prospect of delivering one of the North East’s premier business parks. “Working alongside Durham County Council, the Forrest family and the Local Enterprise Partnership, we will create a business park that provides a wide range of high quality accommodation that will attract major investment and jobs to the region.”
Aycliffe Business Park is already home to around 500 companies and around 10,000 employees. The preparatory groundworks, site infrastructure including new substation, service connections and highways improvements known as the Forrest Park enabling works began in 2016 and have now been completed. Located at Central Park, Western Approach, the development will provide the final industrial phase of the already highly successful 350-acre park.
DURHAM COUNTY COUNCIL
REGENERATION AND LOCAL SERVICES (ASSET MANAGEMENT) FOR SALE
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Milburngate on the banks of the River Wear.
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Durham County Council has agreed the application allowing for the creation of a brand-new living, working and leisure destination in the heart of the city. The permission enables the joint
venture of Arlington Real Estate and the Richardson family to deliver the first phase of development at Milburngate which, upon completion, will provide a range of leisure facilities, bars and restaurants, high quality offices and luxury apartments. Already, Milburngate has attracted a range of premium occupiers including the Everyman boutique cinema, Pitcher & Piano and the new concept steak restaurant Bar + Block.
etailed planning permission has been granted for the construction of
PETERLEE
uccleuch Property continues to strengthen its commercial property portfolio with the purchase of a £3.475 million property in the heart of North West Industrial Estate, Peterlee. Reflecting a net initial yield of 7.95%, the 100,000 sq ft property encompasses a purpose-built modern manufacturing and warehouse facility generating an annual rent of £293,500. The building has a large warehousing space, two linked bays, an
ancillary canteen and separate high spec office space spanning across two floors. An additional secure service yard and generous car parking area completes the offering.
Located on Fiennes Road, the building is currently let as a storage and distribution space for Bristol Lavatories Ltd, a leading UK pharmaceutical company. Occupying a prominent position on the industrial estate, it benefits from easy access to the A19, alongside excellent public transport links.
DUTCH CO INVESTS IN NORTH EAST
Opportunity to restore former King James School Building, South Church Road, Bishop Auckland.
Single site including a substantial stone built building and surrounding land.
The site itself is 0.63 acres in size and the building has a combined internal area of 939.91m2
The building is Grade 2 listed and provides an exciting opportunity to restore the premises following fire damage in 2007.
The site is suitable for multiple redevelopment opportunities (subject to planning permission). Offers invited Closing date Monday 29th October 2018
Further details and offer forms are available from Asset Management on 03000 267027
https://www.durham.gov.uk/article/3258/Land-and-property-for-sale
58
ightweight Containers, a Dutch-based manufacturer of lightweight kegs for the drinks industry, has chosen to locate its first UK manufacturing plant in County Durham. The company has taken a 10 year lease on a 62,000 sq.ft unit at Foxcover Industrial Estate in Seaham and expects to create around 35 jobs within two years. The company is currently fitting out the unit with the aim of commencing production in July. The company has been searching for a site in the UK to
L
satisfy a growing demand for its products, due in part to an upsurge in the craft brewing sector. It has opted for Seaham after a lengthy collaboration process involving Metnor Group, the owner of the site, HTA who acted as agents for Metnor and the inward investment team at Business Durham, the economic development organisation for County Durham, working on behalf of Durham County Council.
COMMERCIAL PROPERTY MONTHLY 2018
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