Member Article

Wynyard Business Park lands £10m Northumberland Estates investment

Northumberland Estates, the Alnwick Castle-based property developer, has bought a £10m stake in Wynyard Business Park, near Billingham in the Tees Valley .

The deal will see ownership of commercial property interests on 80 acres of land including, Wynyard Park House, Evolution and the Business Village transferred to Northumberland Estates.

Moreover, Northumberland Estates and Wynyard Park have entered into a joint venture agreement on a further 100 acres of adjacent land zoned for development with a view to further investment at the site in the longer term.

The Northumberland Estates purchase includes 100,000 sq ft of office space and around 1.6 million sq ft of industrial all currently let to around 60 individual tenants.

Wynyard Park retain ownership of the majority of the wider estate - 700 acres including office and industrial space accommodating Huntsman, Ensub and Barrier Architectural.

Development is also well underway on the construction of over 1000 homes and supporting facilities to create a high quality mixed use development.

Colin Davidson, Commercial Property Director at Northumberland Estates, said: “This is an exciting purchase for us and one which underlines a serious commitment to continued property investment in the region.

“The Business Park fits well with our existing portfolio of managed properties and the development land compliments our development pipeline.

“Through this we hope to further our construction plans in a way which is commensurate with market demand and so continue to bring jobs and new business both to Teeside and to the region.”

Anthony Cape, Asset Manager at Northumberland Estates, said:“The philosophy at Wynyard fits well with the Northumberland Estates ethos. All of those involved in this project have the same vision - to create a thriving and dynamic community, and this will be at the heart of plans for future development. “