Merchant Park project delivers first unit

A North East business park is set to bring thousands of new jobs and boost the regional economy.

Merchant Park, in Newton Aycliffe, has completed its first 53,993sq ft warehouse.

The development, which is set to create over 1100 new roles, was welcomed by North East mayor Kim McGuinness, who toured the site on Millennium Way and met the project team to discuss opportunities for local people and businesses.

Mayor McGuinness said: “Small and medium-sized businesses are the beating heart of our economy. 

“As mayor, I’m determined to help them grow, create thousands of new jobs and deliver real opportunities for people across our region.

“Developments like Merchant Park show what’s possible when we invest in our local business community and back their ambition. 

“This new site is already bringing high-quality jobs to the area, with even more to come as the project expands.”

Merchant Park spans 65 acres at Aycliffe Business Park, home to Hitachi Rail Europe’s 30-acre train manufacturing facility. 

The first warehouse is part of a three-unit plan, with 89,000sq ft and 126,000sq ft units under construction to further increase employment and economic growth.

A seven-figure senior debt package from FW Capital, backed by the North East Combined Authority, helped deliver the project, alongside local contractor teams from Hall Construction and Helm Consulting. 

The project forms part of the £35 million North East Commercial Property Investment Fund, which aims to create 5600 jobs and deliver 140,000sq metres of commercial space across the region.

Adrian Goodall, director at Merchant Park Developments, added: “Everything ground to a halt post Covid, and we needed a funding boost to assist the completion of this project. 

“The backing of FW Capital and the North East Combined Authority has enabled us to fast-track the delivery of the first unit. 

“Thanks also go to the work of everyone on site, especially the team at Hall Construction, whose commitment to the job has allowed the project to be completed ahead of schedule. 

“Welcoming Kim to look around the site and talk to the people involved has been great and we thank her for her time.” 

Chris Dixon, fund manager at FW Capital, added: “Watching developments come to fruition is a very satisfying part of the job. 

“The team at Merchant Park Developments has impressed us with their vision and focus to bring Unit 1 to completion. 

“With excellent road links and quality commercial warehouse and office space, it’s a great location for any business looking to be based out of the North East.” 

Property enquiries are being handled by CBRE and Connect Property North East. 

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