50 potential jobs in place with £1.2m investment for South Tyneside development
Work has begun on a £1.2m expansion of an industrial property in South Tyneside.
Property developer, Avon Capital Estates (ACE) is extending a 27,500 sq ft industrial unit at Brooklands Way on Boldon Business Park, in Boldon, with a 20,000 sq ft extension.
The large 47,500 sq ft unit could create up to 50 new jobs and, given its close proximity to Nissan, may attract interest from an automotive supplier. However, it is said to be equally suitable for other industrial and warehouse uses.
The construction is well underway and will be completed and available to lease from next month.
The property - which will comprise an open-plan factory/warehouse space with a two- storey office block, a yard and parking areas - has planning consent for B1, B2 and B8 uses, allowing maximum flexibility.
Meldrum Construction won a competitive tender to carry out the construction works.
Simon Haggie, industrial property specialist and partner at Knight Frank Newcastle, concluded: “This development is very positive news indeed for South Tyneside.
“Speculative industrial developments are badly needed in the North East to ease the shortage of modern industrial space and this is a size which is particularly scarce. So, we are pleased that ACE has had the boldness to push forward with this development.
“We have been with ACE every step of the way in terms of helping to shape the plans and maximise their assets and we are confident the property will attract strong interest from potential occupiers once extended.”