Member Article

HTA Real Estate act on behalf of CRT on North Tyneside investment acquisition

HTA Real Estate has acted on behalf of CRT Property Investments on an investment acquisition at New York, North Tyneside.

CRT Property Investments Ltd, the property investment subsidiary of the Coalfields Regeneration Trust, purchased a 37,700sq ft unit, situated on the popular New York Industrial Estate in North Tyneside.

Working with commercial property agents, HTA Real Estate and Blue marble Properties , CRT Property have taken ownership of this modern unit having agreed the purchase with Knight Frank in Newcastle, acting on behalf of vendor Hansteen.

Along with an agreed 8 year lease with current tenant, Denistron Technologies plc, the purchase becomes even more attractive as the site offers further potential with a reported surge in occupier demand and new lettings over recent times.

Property Investment and Development Director, Shaun O’Brien said: “The purchase of the New York Industrial Estate unit fulfils our criteria twofold; not only do we establish an important income for the delivery of our regeneration projects, but we are also investing directly into one of the regions that we support.”

Director at HTA, Russell Taylor, said: “We are delighted to have completed this transaction on behalf of CRT. It confirms that investors remain keen to invest in the North East and that the industrial sector offers attractive investment profile.”

CRT Property Developments Ltd is a subsidiary of the Coalfields Regeneration Trust, the only organisation dedicated to supporting the coalfield communities to help themselves.

Responding to the challenge from Government to become self-financing, the property investment company will provide a return that will continue to allow the Coalfields Regeneration Trust to create programmes that meet with the diverse and complex needs of the communities throughout the UK.