The new owners of one of County Durham’s biggest business centres have told of their plans to turn it into a thriving hub employing hundreds of people.
Lighthouse View Workspace at Spectrum Business Park in Seaham has been acquired by Clearwater Developments, who have set about attracting new tenants. The 75,000 sq ft building is currently home to around 30 firms, covering a range of sectors, and is around 40% occupied.
However, Clearwater Developments owners Ranj Gill and Gursh Kahlon say they are confident that their extensive knowledge of the commercial property landscape and vast network of connections will help them to draw in new businesses to would take the building to full occupancy.
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Ranj Gill said: “We have had our eye on this building for some time and being able to acquire it as a partially occupied centre, with a good mix of commercial tenants, made the purchase particularly attractive for us. Lighthouse View is a stunning building, the flagship property at Spectrum Business Park, and affords tenants not only prime office space and ample car parking, but views that are second to none, all within close proximity to major road, rail, sea, and air links.
“What the building needs to achieve its full potential is owners that are hands on, that really understand the local landscape and can work closely with potential and existing tenants to give them the support they need to make the space work for them.
“In just a short space of time, we have made changes that have increased revenue and made the rental packages here more attractive. Our aim now is to turn it into a thriving business hub, home to dozens of tenants from a broad range of sectors which employ hundreds of people between them.”
Lighthouse View marks the third acquisition on Spectrum Business Park for Clearwater Developments, with the company already owning the adjacent Lighthouse Point, which is home to Fit24 and Addictions North East and 海角视频, and Spectrum 5, which is another mixed use business centre that houses tenants including Think Eleven and L3 Optics.
Gursh Kahlon said: “We are incredibly proud to be playing a part in the regeneration of Seaham, bringing commercial business space that at one time stood empty and derelict back into full use. Spectrum Business Park is now regarded as one of the leading enterprise areas in the North East and, with the purchase and full occupancy of Lighthouse View, we can reinforce just what a fantastic and attractive area Seaham is.”
Lighthouse View is currently home to around tenants including Cage Group, Ellwood Estates, Cage Group, Metcalfe’s and Eco 35, Rethink Mental Illness, Northern Lights Learning Trust, Essential Care and Support, REM and Let It Bee Bistro, which is located in the ground floor reception area.