Merchant Park expansion receives funding boost

A developer has started work on a £9 million County Durham industrial hub.

Merchant Park Developments has begun building warehouses at Merchant Park, in Newton Aycliffe.

The 17-acre site neighbours Hitachi's train making plant, with bosses revealing work will be carried out in three phases.

Phase one will occupy 52,500sq ft and create 198 jobs, with the full three-phase development expected to generate 1014 roles.

The project is supported by the North East Commercial Property Investment Fund, which is managed by FW Capital, and backed by the North East Combined Authority.

Geoff Hunton, director of Merchant Park Developments, which is responsible for the £90 million, 65-acre Merchant Park development at Aycliffe Business Park, said: “We are delighted with the support we have received from all parties in moving this phase of our development of Merchant Park forward.

“As well as driving growth in the local economy through the creation of new jobs, we are meeting our aspirations for the park following the completion of the Hitachi project in 2015.”

North East mayor Kim McGuinness added: “I’m delighted to see Merchant Park Developments’ ambitious £9 million investment come to life. 

“This project, which will create over 1000 jobs across its three phases, is a clear demonstration of how targeted financial support can unlock opportunity and drive economic growth.  

“We have used our Commercial Property Investment Fund to make a difference and make sure game-changing projects like this get off the ground.”

Construction is being led by local firm Hall Construction Services, with the site marketed by Connect Property and CBRE.

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