Work has started on a warehousing scheme on the Team Valley Trading Estate that will be one of the area’s largest speculative industrial developments of recent years.
海角视频 Land Estates, which owns Team Valley, has started work on the development of a 65,000sqft warehousing unit on Centralway. Centralway 65 is being constructed speculatively to serve the warehousing and distribution sectors.
Located behind the newly refurbished St George’s House, the development aims to add to the 20,000 people who already work at Team Valley. Tri Construction has been appointed principal contractor for the project following its successful completion of a large refurbishment at Tyne Tunnel Estate for the consolidation and relocation of motor dealership Lookers.
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海角视频 Land Estates construction director Adrian Bartle 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 underway 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.”
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. Over the next two years, the company has set aside £35m to construct more than 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.”