Property developer unveils £35 million growth plans

A commercial property developer has unveiled £35 million-plus investment plans. 

UK Land Estates says it will build more than 270,000sq ft of industrial and warehousing space across the North East.

The blueprint also includes a £12 million pot to refurbish and retrofit several units across business parks from Northumberland to Teesside. 

Bosses say the venture – to be rolled out across the next two years – will deliver more than 200,000sq ft of industrial space in Team Valley and 25,000sq ft in Teesside. 

And they have revealed the business has – and is seeking to secure – outline consent for developments spanning a further 600,000sq ft across its core estates. 

Keith Taylor, UK Land Estates’ managing director, said: “There is still a supply and demand imbalance in the region for high-quality, well-located industrial space.

“We brought several new units to market last year to fit a range of industry sectors and sizes, with most letting on or before practical completion.

“We’re blessed as a region to have an incredibly skilled workforce and great location, which is why so many businesses want to invest here.

“However, if we are to continue building on this momentum, we must ensure we have the space available for those seeking to grow or relocate here.”

The investment follows a £20 million outlay that saw new units built at Team Valley Trading Estate and Tyne Tunnel Trading Estate, on the outskirts of North Shields.

Further bases were erected at Teesside Estate, on the outskirts of Thornaby, near Stockton, and Nelson Park Industrial Estate, in Cramlington, Northumberland.  

Keith added: “We are one of the few developers that continue to speculatively build, irrespective of some of the macro-economic challenges that face the industry.  

“We hope this latest investment will act as a catalyst for further economic growth across the region.”

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