Industrial property specialist HTA Real Estate has been appointed alongside CBRE to market a County Durham business park, which it says can plug an important gap in the region’s property market.
Jade Business Park, located adjacent to the Dalton Park shopping outlet, has planning permission for large-scale industrial development, of which there is a well-documented shortage in the region.
The 55-acre site, which was formerly known as Hawthorn Business Park, will now be developed as a joint venture between Durham County Council and Highbridge Properties, the developer behind Cobalt Business Park.
Highbridge is offering opportunities at Jade Business Park for bespoke manufacturing and distribution buildings of up to 1,000,000 sq ft, with the benefits of a fully serviced site.
Nick Atkinson, director at HTA Real Estate said: “Jade Business Park represents an extremely accessible commercial location thanks to its close proximity to the A19, only eight miles south of Nissan.
“As a fully serviced site, the park offers genuine deliverability, so we can fulfil occupier requirements with a very swift turnaround”.
Dave Cato, associate director at CBRE said: “Given the limited availability of large modern industrial premises, Jade offers an excellent opportunity for design and build projects to meet the demand for large-scale requirements.”
Guy Marsden, director at Highbridge Properties added: “The combination of a strong independent Newcastle-based specialist, together with an international firm based in Leeds, will mean we have the market covered at every level.
“As a company we have the experience and skill set to negotiate the complex process of converting enquiries into completed bespoke buildings and that is exactly what we are looking to do at Jade Business Park.”
Since outline planning permission was granted in 2007, a high level of investment has been made in the infrastructure at Jade Business Park, including remediation of the former coke works and construction of the access road from the A19.
Peter Rippingale, inward investment manager at Business Durham said: “Jade Business Park is one of ten new North East Enterprise Zones launched in April 2017.
“The Enterprise Zone status will facilitate business rates discounts for prospective occupiers until 2025.”
