A 15,000 sq ft retail centre in Ingleby Barwick, Stockton-on-Tees, is already 95% let more than a month before practical completion, thanks to the efforts of Teesside commercial property agents Dodds Brown and Connect Property North East (CPNE), and law firm Endeavour Partnership.
The three professional firms have advised on the development of Sandgate Park, a 14,262 sq ft retail development which consists of 12 retail units, anchored by a convenience store, located off Myton Way, Ingleby Barwick, Stockton-on-Tees, TS17 5LL, at its junction with The Rings.
The development will be anchored by a Co-op Food store, while other tenants will include a 130 seat Al Forno Italian restaurant and coffee shop, Yarm Butchers, Cooplands Bakery, Fatso gourmet pizzas and sandwich shop, Roseberry Newhouse Estate Agents, Stockton Cycling and Running, Barnardos, and hardware store Fix it DIY. Only one unit remains available with strong interest from potential tenants.
Planning was granted for Sandgate Park in April (2016). Construction is expected to be completed by the end of October (2016), when the units will be handed over to the tenants for their internal fit out work. The first units are expected to open in November.
Richard Wilson of Dodds Brown and Andrew Wilkinson of CPNE led the teams marketing the development to tenants, while Alexandra Ketchley of Endeavour Partnership advised developer Sandgate Park Limited on all the legal aspects of the site acquisition, development structure and letting agreements.
“Letting 95% of the available space more than a month before practical completion is a triumph for the marketing team and a real justification of the developer’s vision in realising the need for such a retail centre in Ingleby Barwick,” said Richard Wilson.
Andrew Wilkinson said: “There is still one available unit for another retailer to move in alongside these well-known national and local names and benefit from the large footfall that they will undoubtedly generate.”
Alexandra Ketchley said: “Ingleby Barwick is one of Europe’s largest private housing estates with household numbers expected to exceed 25,000 this year. This new high quality neighbourhood development will provide excellent restaurant, shopping and other services for this growing population.”
Steve Cornfield of developer Sandgate Park Limited said: “As a local developer we worked hard with our professional advisers, Stockton Council, and local councillor Ross Pattison to ensure that we are providing a good mix of retailers for the community. There will be no competing retailers on the development.”
