Tees Valley authority to invest over £3m into high-end office space development
Tees Valley Combined Authority has today (February 5) agreed to invest £3.23m to deliver high quality office accommodation in the region.
The Combined Authority’s Cabinet has agreed to match the funding of Darlington Borough Council for the £8.5m complex at Feethams in Darlington Town Centre alongside £2.04m from the European Regional Development Fund.
The new five-storey high building would provide accommodation for small and medium enterprises across the Tees Valley in key sectors including business and professional services and in the digital and creative field.
It will be located within walking distance of Darlington station and its vital East Coast Mainline rail services.
Tees Valley mayor, Ben Houchen, said: “If we are going to attract professional services firms to the area, then we need proper Grade A office space.
“At the moment they’re looking to Newcastle and Leeds, when really they should be basing staff in the Tees Valley.
“This extra financial boost today sends a strong signal to companies nationwide that they should base themselves in here, and is recognition of Darlington’s pull as an excellent location for such firms.”
As well as providing quality workspace, the 3,900 sq m site will aid in making Darlington more vibrant as businesses based at the development take advantage of the town centre’s cafes, shops and facilities.
It will also contribute to the Tees Valley Strategic Economic Plan, which has a target to create 7,000 additional jobs in professional and office services.
Darlington Borough Council leader, Bill Dixon, added: “Thanks in part to its road and rail connections, Darlington is very attractive to businesses.
“To match the great location, we need to keep investing in top-quality premises that have everything that companies, especially those in the digital sector, need to make sure they stay in the area for years to come.
“This cash will help us continue to deliver that and keep Darlington and the wider region growing.”