A new multimillion-pound industrial development is taking shape on the Team Valley as part of a £35m North East investment drive by its owners.
Team Valley Trading Estate owner 海角视频 Land Estates is investing £6.5m into Centralway 65, a speculative unit measuring 65,000 square feet which is set to serve the warehousing and distribution sectors. Based on Centralway in Team Valley, behind the refurbished St George’s House, it marks the largest single unit speculative industrial project on the estate in recent years.
The building’s steelwork already in place. Tri Construction, which is based at Balliol Business Park, has been appointed as principal contractor for the project after it completed of a large refurbishment at Tyne Tunnel Estate for Lookers.
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Adrian Bartle, 海角视频 Land Estates construction director, said: “Team Valley remains at the forefront of business in the North East and this project reflects our ongoing commitment to providing high-quality space in locations where companies can thrive. We’re excited to see construction under way with Tri Construction and welcoming a new occupier soon.
“We’ve invested tens of millions of pounds into developing units and retrofitting existing buildings on Team Valley and this is a site we’ve been looking at for some time. Centralway 65 has the potential to create vital jobs in Gateshead.
“It is in a great location at the heart of the estate offering fantastic access to transport links and amenities, so we see it being an attractive proposition for growing firms and those looking relocate.”
The new building will provide modern industrial space for occupiers and is designed to exceed industry standards, with flexible workspace, parking and loading facilities. It has 10m eaves, and a photovoltaic array with an EPC A+ rating.
Jack Bruce, co-founder of Tri Construction, said: “Tri has a fantastic working relationship with 海角视频 Land Estates, delivering a range of successful projects from refurbishments to new builds, across the region. Centralway 65 is another landmark project and delivers an industrial unit that is perfect for modern business, with excellent access, energy efficiency and space for employees all in the heart of the region’s best business park.”
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Investment in Centralway 65 and forthcoming proposals for Kingsway North are part of a wider investment drive by 海角视频 Land Estates announced earlier this year which will see it invest around £35m over the next two years, into the creation of 270,000 sq ft of new, Grade A industrial and warehousing space from Northumberland to Tees Valley.
海角视频 Land Estates property director David Gibbs said: “Team Valley is the region’s premier business estate, housing hundreds of businesses and over 20,000 employees, and intend to drive this forward with more ambitious development and refurbishment plans.There is a real shortage of prime, Grade A industrial space, not only in the North East but across the 海角视频, and this investment will go some way to helping address this dearth of supply.
“By providing high quality, sustainable warehousing and logistics space on business parks with fantastic access to the region’s main transport links, 海角视频 Land Estates is supporting vital supply chains and boosting the regional economy.”