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Seven lettings at Tyne Tunnel Estate

Seven lettings at Tyne Tunnel Estate

A £2 million refurbishment scheme recently completed at UK Land Estate’s Tyne Tunnel Estate in North Shields has proven a huge success in attracting a host of new tenants.

Work completed on the 11 units late last year delivering a range of buildings ranging from 3,000 sq ft up to 26,000 sq ft. “Since completion seven units amounting to circa 70,000 sq ft have let with two of the remaining four units currently under offer,” says Mark Proudlock, partner at Knight Frank and joint agent with Cushman & Wakefield. “This level of activity over such a short timescale is very encouraging.”

RJ Fixings, a supplier of fixings to the construction industry with offices in Newcastle, Edinburgh and Guildford, was one of the first companies to occupy one of the refurbished units. Director of its Newcastle branch Steve Hindson comments: “Our new unit has given our business the professional image we need and the location has brought about huge benefits in terms of accessibility for our customers. We’re delighted to have secured the ideal platform for our long term growth”.

Mark Proudlock adds: “This latest phase of refurbishment has been hugely successful in attracting a diverse spectrum of companies ranging from print, design and multimedia businesses to a specialist in the online sale of antique and art deco furniture. Demand is testament to North Tyneside as an attractive business location. With the expected benefits of the junction improvements at Silverlink, combined with those already enjoyed following the dualling of the Tyne Tunnel, the Estate and wider area are well positioned to thrive economically.

The refurbishment programme involved fitting new, insulated, roofs and cladding as well as new interior offices and WC facilities. The upgrades to the units have significantly enhanced the appearance of the properties as well as comfort for occupiers while at the same time improving their energy performance reducing operating costs.

David Gibbs, Head of Lettings at UK Land Estates comments: “The on-going investment into the estate demonstrates our strategy to improve our vacant stock to meet occupier demand but also make these great locations work. Tyne Tunnel has seen significant investment over the past seven years and this is set to continue with new developments as well as on-going refurbishments.”

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This was posted in Bdaily's Members' News section by Knight Frank .