New £70m investment hub coming to Sunderland's Nissan site
A local developer, Town End Farm Partnership (TEFP) is to drive forward plans to create a £70m automotive investment hub next to Sunderland’s Nissan site.
The ‘Wear Point 55’ proposal has ‘potential’ to deliver more than 1,300 jobs through the development of a one million sq ft manufacturing space including two new factories for Tier 1 suppliers to Nissan and 100,000 sq ft for commercial use.
The plans will shortly be submitted to Sunderland City Council. The investment is said to be a ‘game-changer’ for Sunderland as well as the manufacturing industry on a whole post-Brexit.
TEFP’s director, Peter Razaq, said: “Our development will secure investment to support the future growth of arguably the region’s most important employer in Nissan.
“This comes at a time when businesses across the country are looking for reassurances that trade and manufacturing with the UK can continue post Brexit. Our plans put the North East at the very heart of the resurgence of the country’s manufacturing sector.”
The proposed Tier 1 supplier units are designed specifically to meet Nissan’s new car production timescales and expansion plans.
The Japanese car manufacturer is currently planning to launch new models in 2020. With under two years until the new models are due to roll off the production line, the investment in the manufacturing hub is supposedly hugely anticipated.
TEFP - run by the same local team of directors who manage wholesalers Kans and Kandy in Seaham - has worked with international businesses to secure a major occupier for the site to deliver jobs and investment to the area at no cost to the taxpayer.
TEFP has owned the 55-acre site for 10 years and has been working to design a project that meets Sunderland’s manufacturing growth ambitions. In discussions with potential occupiers they have had firm interest from Tier 1 Nissan suppliers.
The location of the units immediately opposite the Sunderland car plant means components for current and future models can be manufactured in the region and moved to the Nissan site at minimal cost.
There is an identified immediate demand for Nissan suppliers to co-locate which currently cannot be met within Sunderland.