Member Article

£1.6m Team Valley trade park project to create 50 jobs

Construction work has begun on Earlsway Trade Park, a new speculative SME development on Team Valley, Gateshead, with the project expected to create 50 new jobs.

A 22,000sqft development of trade counter/workshop units, nine trade counter units will range from 1,905sqft to 3,270Sqft.

Brought forward by The Northumberland Estates, Newcastle-based Naylors has been appointed as letting agent alongside Cushman and Wakefield on the £1.6m scheme.

The Northumberland Estates received planning permission for the development from Gateshead Council in summer 2015 and have appointed Robertson as main contractor. Construction works include the demolition of existing buildings on the site where steelworks are now visible. Practical completion is scheduled for 9 May 2016.

The Earlsway Trade Park site is located at the Northern end of the Team Valley and was acquired by The Northumberland Estates from UK Land Estates in 2014 as part of a larger strategic portfolio. Nearby occupiers include EuroCar Parts, ATS, EuroMaster, Flowserve and Crosslings.

Keith Stewart, Head of industrial agency at Naylors, said: “Team Valley and the surrounding area is in desperate need of new, smaller-scale commercial space for SME and trade counter occupiers.

“This development will certainly help to address the limited supply within this area, however further development of this nature will be needed to fulfil ongoing demand across the North East.”

He added: “We anticipate a high level interest in the scheme from the outset and hope to secure a pre-let by early 2016.”

Michael O’Driscoll of The Northumberland Estates said: “We are building on the trade park uses of surrounding schemes including the likes of Bamburgh and Craster Court.

“The units themselves have been designed to fill a void in the market and initial interest occupier levels certainly support this with a number of negotiations already underway.”

The surrounding area has benefitted from significant investment in recent years with the arrival of Maingate with its abundance of amenities including O’Briens, Greggs, HSBC and Gymetc as well as The Premier Inn and Valley Farm Restaurant, both of which are close by.