Boldon Business Park set for £5million future-proofing investment

A commercial property developer and investor has revealed that it is set to spend more than £5million on a number of improvement projects at the Boldon Business Park.

UK Land Estates has stated that its investment is to ensure that the business park "meets the needs of tomorrow's businesses".

£4million of the investment will be spend to transform two vacant 70,000sq ft and 50,000sq ft units into modern industrial and distribution hubs.

It will ensure that the buildings meet the most stringent environmental standards and give a new purpose to the previously dilapidated structures.

The other projects benefiting from the investment include improving the environmental credentials of existing buildings and making the business park a better place to work through landscaping and infrastructure improvements.

David Gibbs, commercial director at UK Land Estates, said: “Boldon Business Park has long been recognised as one of South Tyneside’s most sought-after business addresses, so we’re delighted that these improvement projects have all been approved and are now underway.

“Over the coming months, the projects will see new life breathed into two vacant units which have stood empty for a period of time while the former owner consolidated its operations.

"The investment provides much needed quality stock into the market, where there is still constricted supply.

“We made a commitment when we re-purchased the bulk of Boldon Business Park last year that we would invest heavily into futureproofing the estate and this is a great example of how we’re delivering on that promise.

“We’ve taken what was a disused, neglected building and are transforming it into a modern-day workspace that meets the most stringent of environmental standards and will provide yet more jobs for local people.”

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Cllr Margaret Meling, lead member for economic growth and transport at South Tyneside Council, has welcomed the investment at the business park.

Cllr Meling commented: “This is fantastic news for the Borough and will build on the recent investment into the park to provide further high-quality, sustainable business space.

“Boldon Business Park is in a prime location and we look forward to welcoming more new tenants.”