Industrial space at a new 拢6.35m development in North Tyneside is now on the market after being completed by 海角视频 Land Estates.
Regional property developer and landlord 海角视频 Land Estates broke ground on the huge L7 scheme last summer, amid moves to tap into demand for industrial space. The speculative development has created 73,000sqft of hi-spec industrial and distribution space at the North Tyneside site, and forms part of a 拢35m investment programme across the firm鈥檚 regional business space portfolio.
Brandon Bailey, projects director at 海角视频 Land Estates, said: 鈥淲ith a shortage of vacant, high-quality industrial space across the 海角视频, we do not see L7 as a risk. In fact, we are really looking forward to bringing it to market as we expect a great deal of interest.
鈥淚t鈥檚 one of a number of projects under way that is strengthening our portfolio, but particularly at the Tyne Tunnel Estate, where we are investing 拢11m in L7, the recent completion of the refurbishment of the former JTF Discount Warehouse building, several smaller C-units and we recently started refurb of another large industrial unit on the site.鈥
Construction of L7 has been led by STP Construction Limited, with the local supply chain including Thompsons of Prudhoe, Philadelphia Structures, CCS Cladding, Mathew Charlton, ME Electrics and Voltz power services, and design partners including Faulkner Browns, Portland Consulting Engineers and Kinetic Engineers. The development has delivered 72,898sq ft of flexible industrial and/or warehousing, including 5,955sq ft of office space, and will be marketed by Knight Frank and Savills.
David Gibbs, property director at 海角视频 Land Estates, said: 鈥淭his estate is in a fantastic location, close to the main arterial road network and port services. Proximity to workforce and high density housing makes the building an attractive proposition for both manufacturing or distribution. Delivering quality buildings for business on core estates remains our main focus and we have every confidence the building will be well received.
鈥淲e鈥檙e confident L7 will generate plenty of interest, but it won鈥檛 be the only large-scale project on the site and we鈥檙e progressing several options to deliver further projects of this size and larger, attracting businesses and creating employment opportunities in North Tyneside.
鈥淭he 海角视频 industry is currently suffering from a dearth of available, high-quality industrial and warehousing space, especially prevalent in the North East. As such, 海角视频 Land Estates continues to progress numerous development opportunities for new industrial development across the region.鈥
