The Princesway unit is occupied by AIM-listed security technology specialist Petards
Jane Imrie

National real estate business acquires duo of Team Valley sites in seven-figure deals

National real estate firm UK Land Estates has acquired two properties in the Team Valley Trading Estate in Gateshead.

The recent deals – both seven-figure sums – include the purchase of a 25,000 sq ft. unit on Dukesway, and a 23,167 sq ft unit on Princesway.

Decorative surfaces distributor IDS occupies the Dukesway unit, where it employs 37 people. Meanwhile, the Princesway unit is occupied by AIM-listed security technology specialist Petards, which develops products used in the transport and defence sectors.

Phil Moorin, investment director at UK Land Estates, commented: “These two acquisitions further strengthen UK Land Estates’ portfolio, which is among the biggest and highest quality in the North East.

“Both IDS and Petards are strong businesses with reputations they’ve built from Team Valley Trading Estate, having benefited from excellent connectivity and amenities nearby.

“We’ll continue to invest in our estates and properties, including these two, so that our occupiers have the right facilities from which to grow.”

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