Partner Article

Partnership continues to prosper

A MAJOR £25m regeneration partnership in the region has reported significant growth after landing a string of new development deals.

Onsite North East - a partnership between One North East and property investor and developer Langtree – was formed in April last year to respond to investment opportunities throughout the region and, despite turbulent market conditions, the alliance appears to be paying dividends.

A dedicated North East office has now been set up to manage the current portfolio, which comprises 23 sites totalling in excess of 1,000 acres.

Stephen Barnes, chief executive of Onsite North East, said: “Despite difficult trading conditions over the past 12 months, Onsite’s development portfolio continues to offer a unique opportunity for property investment within the region and, we’ve been encouraged by the level of activity over the last 12 months.

“Onsite’s asset base provides the ideal foundation for creating and delivering commercial opportunities that will benefit the region and its economy. We are looking forward to further growth and feel we have laid a solid foundation for success.”

The sites are spread throughout the region from Berwick upon Tweed in the north through to Redcar in the South.

Commercial development on around 30 acres of land has since been secured at sites including Villa Real in Consett, County Durham, Nelson Park and West Hartford in Cramlington, Northumberland, Kirkleatham, and Queens Meadow Business Parks, both in Teesside.

And while the focus of the portfolio is weighted towards workspace, warehousing and offices, Onsite has said there are a number of new contracts in the pipeline within the leisure and retail sectors.

David Cramond, One North East director of capital development, added: “This is exactly the sort of close collaboration between public and private sectors that will help to drive our regional economy forward.

“Using our existing assets and a commercial partner to generate new development will help to create new jobs in the most efficient way.

This was posted in Bdaily's Members' News section by Ruth Mitchell .