Merchant Park expansion gets funding boost

A new commercial development in Newton Aycliffe, County Durham, is set to drive economic growth and create hundreds of jobs.

Merchant Park Developments has unveiled a £9 million investment in the first phase of its latest addition at Merchant Park, which will see the addition of a 17-acre development adjacent to the Hitachi train facility on Millennium Way, comprising of three warehouse units to be built in different phases.

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

The project, supported by the North East Commercial Property Investment Fund, which is managed by FW Capital and backed by the North East Combined Authority (NECA), aims to strengthen the region’s industrial capacity. 

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 1,000 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 already underway, led by local firm Hall Construction Services, with the site being marketed by Connect Property and CBRE.

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