£1.6m deal to create jobs and develop up to 21 acres of land in Northumberland
A £1.6m purchase agreement has been reached enabling a concrete manufacturer to acquire and expand its base in Northumberland.
Property development company Harworth Group has made the agreement with commercial tenant Lynx Precast, enabling the firm to buy existing premises as well as additional land for future expansion at Lynefield Park.
The deal, which includes around 150,000 sq ft of existing manufacturing facilities on 14 acres of land and the option to purchase a further seven acres at the 320 acre site, will enable Lynx Precast to add ten new jobs to its 46-strong workforce over the next twelve months.
Lynx Precast MD, Andy Teasdale, commented, “This is an exciting phase of development for the company and one which will allow us to make significant investment in the business as well as the local area too.
“We have 46 employees currently at Lynemouth but this will increase over the next year and beyond, helping us to grow steadily, free us up to configure the land and buildings to suit our requirements, enter into new markets and serve larger clients up and down the country with high quality, pre-stressed flooring and reinforced concrete products.”
Eddie Peat, director (North East) for Harworth added: “We are delighted to have played a part in Lynx Precast’s success and, more importantly, its future by handing part of the site over and ensuring that the company can grow without relocating from its existing base.
“It is essential that land and property owners, especially in today’s uncertain economic climate, work closely with their tenants to offer support whichever way they can.
“This is therefore very good news for Lynefield Park, the local area and the wider community in terms of jobs and I wish Lynx Precast all the best for the future.”
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