Work is under way on a £1.2million project which developers hope will bring up to 50 new jobs to South Tyneside.
Avon Capital Estates (ACE) is speculatively extending a 27,500 sq ft industrial unit at Brooklands Way, on Boldon Business Park, with a 20,000 sq ft addition.
The newly-created 47,500 sq ft unit could create up to 50 jobs, and, while its close proximity to Nissan would make it particularly attractive to an automotive supplier, it is equally suitable for a range of other industrial and warehouse uses.
Construction is to be completed and available to lease by mid-December this year.
The property, which will comprise an open-plan factory/warehouse space with a two-storey office block and a dedicated yard and parking areas, has planning consent for B1, B2 and B8 uses, allowing maximum flexibility.
Puneet Vedhera, associate at Knight Frank, which is project managing the building works, said: “A modern building with expansion land is a bit of a rarity, so this building was ideally suited to enlargement, and we have been able to procure it within the client’s budget, allowing it to be offered at a competitive rental.
Speculative industrial developments are badly needed in the North East to ease the shortage of modern industrial space and this is a size which is particularly scarce. So, we are pleased that ACE has had the boldness to push forward with this development.Simon Haggie
“The proximity of the estate to the A19 and the onsite retail, leisure and hotel facilities makes this an attractive proposition for any occupier.”
Several teams within Knight Frank Newcastle are delivering the scheme including the industrial team, which has advised ACE on the development and leasing, and building consultancy team, which has been responsible for the design, procurement and project management of the building work.
Meldrum Construction won a competitive tender to carry out the construction works.
Simon Haggie, industrial property specialist and partner at Knight Frank Newcastle, said: “This development is very positive news indeed for South Tyneside.
“Speculative industrial developments are badly needed in the North East to ease the shortage of modern industrial space and this is a size which is particularly scarce.
“So, we are pleased that ACE has had the boldness to push forward with this development.
“We have been with ACE every step of the way in terms of helping to shape the plans, and are confident the property will attract strong interest.”