News
Flagship Employment Site at Stockton Acquired for Development
The site benefits from an outline planning permission for almost 400,000 sq. ft. of commercial space and reserved matters (detailed) permission for circa 220,000 sq. ft. Together this could foster more than 1,070 jobs on the site, with many more in associated supply chains linked to the scheme.
Jason Stowe, Managing Director of Wilton Developments, said: “The scheme will deliver
high quality employment space,
job opportunities, inward investment and economic growth in the area, capitalising on the lack of available opportunities in the wider north east for businesses wanting to upgrade their facilities to new levels of design and ESG credentials.
A19 Stockton employment site acquired
Wilton Developments has purchased the
33-acre Dynamo Park site on
Cheltenham Road in Stockton-On-Tees for an undisclosed sum.
The developer behind the successful 70- acre Turbine Business Park in Sunderland intends to capitalise on its extensive experience in the region to deliver another
high quality commercial scheme, as part of its commitment to logistics and industrial space in the Northern Power House.
The scheme has the capability to deliver circa 600,000 sq. ft. of industrial, storage and warehouse space on a prime A19 frontage, adjacent to the junction for the popular retail and trade location at Portrack Lane.
“The acquisition provides a great opportunity to deliver a variety of industrial, storage and warehouse space adjacent to the A19.”
Wilton Developments is active across the north of England, where the company has delivered prime new build and refurbished commercial space, including the recently completed Latitude logistics development on the M62 near Leeds and Enterprise Park in Barnsley, both for CBRE Investment Managers.
£8.5m investment Creating Four New North East Industrial Units
FOUR new industrial units are taking shape at two of the region’s major business parks, all set to open by summer.
A 35k sq ft speculative industrial building is under construction on Eighth Avenue East in Team Valley,
while three smaller buildings ranging from 8,000 to 20,000 sq ft, designed for the same use, will also be marketed in Teesside Estate, as UK Land Estates (UKLE) continues to invest in the North East.
The buildings, all of which are due to be completed by the end of May, represent a £8.5m investment by UKLE, enabling the firm to offer much-needed accommodation to companies looking for high spec manufacturing or distribution facilities.
The units will stand on the established Team Valley and Teesside developments, already home to a range of businesses spanning industrial and manufacturing to retail and professional services.
The units are all being developed for the same use, and each has the capability of operating at zero carbon emissions thanks to in- built power sources, as well as highly efficient lighting and heating.
Team Valley Trading Estates is already home to over 700 businesses employing over 20,000 people, while Teesside Estate is already a well-established industrial location, covering around 300 acres.
Audit Wales Moves to 1 Capital Quarter in Cardiff
Savills and joint agents Knight Frank, on behalf of GGC Capital Quarter Limited, has completed the letting of the ground and first floor suits totalling c.15,000sq ft at 1 Capital Quarter in Cardiff, to Audit Wales, who were advised by JLL. A 10 year lease has been agreed on the c.5,000 sq ft ground floor suite and c.10,000 sq ft on the first floor, which have both been recently refurbished to a high standard.
The latest success at 1 Capital Quarter follows the recent deal to Regus who has leased the 4th and 5th floors at the building, taking approximately 20,000 sq ft on a 10 year term.
1 Capital Quarter comprises a purpose built, Grade A office building, constructed in 2014. The main reception, which overlooks the Capital Quarter’s Western Courtyard, has recently been refurbished along with the lift lobby areas. Secure parking is also available with all suites.
Other occupiers in Capital Quarter include BT, Banc, Which?, Sky, Geldards, Optimum and WSP. There is currently only c.6,275 sq ft remaining on the 8th floor.
1 Capital Quarter is located in the heart of Cardiff City Centre’s Enterprise Zone and within a few minutes walk of Cardiff’s two main railway stations. The building is conveniently situated for public transport. Capital Quarter offers a coffee shop, convenience store and additional amenities for occupiers, with all of the city centres leisure and retail facilities within a short walk.
12 COMMERCIAL PROPERTY MONTHLY 2023
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