First-class business parks attract investors

Jun 12 2007 By The Journal

The pace of activity in Tyne and Wear's commercial property market has been brisk in the early part of 2007 with investors continuing to see the area as a great place for expansion, relocation and reinvestment.

Automotive supplier MSSL and Cyprus-based shipping management firm Hanseatic are among several high profile names that have moved to the region - continuing its popularity with overseas investors.

The scale of reinvestment has been significant too with firms such as GE Money expanding operations. GE has announced plans to build a new 100,000 sq ft office facility that will create 400 new jobs at Cobalt Business Park in North Tyneside.

Established local companies have also kept the area's property market busy. Wearside manufacturing firm Cottam Brothers is moving to Monkton Business Park in South Tyneside after investing in new premises that will improve the efficiency of its operations.

Tyne and Wear Development Company - the main facilitator of investment into the region for over 20 years - has worked directly on many of these transactions, providing vital support to businesses throughout the investment process.

Its experienced team is able to offer assistance in all areas of investment, from support in finding the right property to help accessing grants and financial assistance. A comprehensive aftercare programme is also provided to ensure that investors' long-term development needs are met.

Paul Buie, manager of Tyne and Wear Development Company, said: "We're continuing to see significant investment across a broad range of sectors and this is good news for the regional economy, creating new jobs and new opportunities for existing businesses.

"There are many reasons why investors choose Tyne and Wear but it's the availability of skilled labour, the fact that it's so easy to do business here, and our excellent location and business parks that crop up time-and-time again in our discussions with investors.

"We are fortunate to have such an enviable range of high-specification office and industrial space with good transport links and excellent IT connectivity."

Hanseatic, one of the world's biggest shipping management companies, sailed into Tyneside in the spring and is to create 20 new jobs. It chose Orion Business Park in North Tyneside as its new base, buying a 2,250 sq ft office at Gladman Developments' popular Hedley Court site.

Hanseatic picked the North-East - ahead of Rotterdam - as its Northern European office so that it can be close to the operational area of the majority of its ships in the North Sea and the Baltic.

"The region won hands-down because of the availability of experienced and skilled labour in the maritime industries," says Hanseatic manager Philip Harwood, who has relocated to the North-East after nine years in Cyprus.

Mr Harwood and his team were assisted throughout their relocation by an inward investment team led by Tyne and Wear Development Company.

He added: "The primary function of our regional office is to improve our client services by locating well qualified staff closer to the vessels they manage.

"So when we were looking for new office accommodation, good communications and ease of access were paramount and that's what we've found."

The significance of excellent facilities and a good business infrastructure in securing investment is underlined by epros, a maker of environmental protection systems. It has invested in new premises at Follingsby Park in Gateshead after benefiting from Tyne and Wear Development Company's investor support programme.

Through its property search team, the agency was able to identify a number of properties which matched epros' needs before it finally selected Follingsby Park.

Danielle Colligan, operations manager for epros in the UK, said: "Tyne and Wear is an excellent base for us. The facilities here are good and we have access to a ready-made workforce with first class skills."

And epros is a leading figure in the international pipe and sewer repair market and will create an extra 11 jobs as part of the move.

It's a similar story for automotive manufacturer MSSL, which also received support from Tyne and Wear Development Company. Motherson Sumi Systems, which makes wiring systems for commercial vehicles, has moved to Albany Road in Gateshead - adding to the area's already strong automotive sector.

Head of operations at MSSL, Anurag Gahlot, said: "Gateshead is a key centre for us and we've got an ambitious target of doubling sales in the next five years."

Tyne and Wear Development Company works closely with the region's five local authorities - Gateshead, Newcastle, North Tyneside, South Tyneside and Sunderland - to attract investment to the area. It also works alongside regional development agency One NorthEast.

Mr Buie added: "The redevelopment of our region over the past decade has been underpinned by the emergence of some excellent business parks and commercial developments.

"From Rainton Bridge in Sunderland; Baltic Business Centre in Gateshead; Quorum in North Tyneside; Trinity Gardens in Newcastle and Monkton in South Tyneside, there's such a massive choice for businesses.

"Helping them to decide what's best for them - whether it's one of these major developments or something smaller - is where we step in."

For more information about investment opportunities, contact Tyne and Wear Development Company on (0191) 516-9099 or visit www.tyne-wear.co.uk