HTA Real Estate secures first letting of South Tyneside speculative development

Regional industrial property specialist, HTA Real Estate has secured the first letting at Infinity Park, a new speculative development in South Tyneside.

The £5m scheme at Monkton Business Park in Hebburn comprises of three new high specification industrial units developed by Washington-based Hellens Group.

Following the recent completion of the project, HTA Real Estate has concluded the letting of a 10,850 sq ft unit to asbestos consultancy, Nichol Associates.

Nick Atkinson, director at HTA Real Estate, said: “To secure the first occupier at a brand new industrial scheme within a few months of completion is a fantastic achievement.

“Infinity Park provides Nichol Associates with a superb standard of industrial and office accommodation, in what is a very accessible location.

“We are pleased to report that one of the two remaining buildings is under offer and there is strong interest in the final unit. It would be great to see more speculative development projects come forward in the region to help fulfil the continued demand.”

The firm, which specialises in asbestos training as well as removal, testing and disposal, currently employs 32 staff after launching in 2006.

Nichol Associates has a client base of local authorities, construction firms and blue-chip companies located throughout the UK.

The development of Infinity Park was supported by a £1.27m grant from the North East LEP’s Local Growth Fund to help address the region’s shortage of good quality new industrial accommodation.

David Nichol, managing director of Nichol Associates, added: “Our new premises at Infinity Park provide an ideal solution as our business continues to evolve, with the potential for additional recruitment in the years ahead.

“We are actively looking to expand our services into manufacturing and other areas of the asbestos and environmental industry to cater for both national and international clients.”

The joint letting agents for Infinity Park are HTA Real Estate and GVA.