A £7 million industrial scheme is attracting increased enquiries after the steelwork appeared on site ahead of schedule.
Portobello Trade Park, Gateshead’s first speculative industrial development since 2008, will deliver 15 high quality units ranging in size from 2,100 sq ft to 23,000 sq ft. When it is fully occupied, the park will support approaching 250 jobs.
Geoff Clark, of developer Ravensworth Property Developments said: “It’s great to see the new development coming out of the ground and starting to take shape.
“The steel frame, which is highly visible from the A1(M) at Birtley, is an encouraging sign of the return of speculative industrial development to the North East.”
Ravensworth has appointed Naylors Chartered Surveyors and HTA Real Estate as joint letting agents, and they have already reported significant levels of enquiries about the site.
Keith Stewart, of Naylors, said: “We have received a high level of interest in the scheme so far, and a significant increase in enquiries since the steelwork has become visible on site.
“Interest is primarily coming from trade counter occupiers and distribution businesses who are attracted by the highly prominent location. We have issued terms to a few parties and hope to achieve the first pre-let in early 2015.”
HTA Real Estate’s, Nick Atkinson added: “This development is vital for the North East industrial market, where a severe lack of small to medium scale development has had a major impact on new and expanding SME’s wishing to relocate to new high quality premises.
“Portobello Trade Park is the first opportunity of this kind in the Gateshead area and we anticipate the high level of interest will continue as the development progresses.”
Gateshead based Robertson Construction has been awarded the contract to build the park which has been partly funded by The North East Local Enterprise Partnership and the European Regional Development Fund. The site is expected to be ready for occupation in June next year.
The photograph shows (left to right) Keith Stewart of Naylors, Grant Whyte of Robertson, Nick Atkinson of HTA and Geoff Clark of Ravensworth in one of the units under construction at Portobello Trade Park.
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