Great opportunities for investors

Mar 12 2008 By The Journal

Tyne and Wear is a major centre of international investment, with a broad range of commercial property. From incubator units that grow as your business grows to international business parks, there are first class facilities for everyone.

As Paul Buie, from Tyne and Wear Development Company, explains: “There’s so much choice and variety in the area. When this is combined with first-rate transport links, quality accommodation and an excellent workforce, it makes Tyne and Wear a great place for business.”

This year’s property show will guide businesses through the latest opportunities the length and breadth of the region.

GATESHEAD

WHEN the Angel of the North spread its wings above Gateshead ten years ago it did so over a town poised on the brink of renaissance. In the ensuing years, scores of developments including The Sage Gateshead cemented that renaissance and offer fresh opportunities for developers and businesses.

A key attraction is the Baltic Business Quarter, a dense, high-quality office development with a modern urban feel. 140,000sq m of space will be developed over ten years by Terrace Hill. The quarter also incorporates Gateshead College’s recently completed £37m Baltic Campus.

Gateshead Council is planning a state of the art communications infrastructure for the site that promises to provide occupiers with world-class facilities making it a great place for businesses working in today’s fast moving economy.

The council’s economic development service provides support for businesses in the borough and for those considering starting up and locating in Gateshead. They provide a free, fast, comprehensive response to enquiries and on-going support covering a wide range of business-related issues. This includes information on vacant premises and sites, both private and council owned; relocation support and advice on finance, grants and loans.

Anne Britton, head of economic development at Gateshead Council, said: “Gateshead has some of the largest prime development sites in the North of England, including many new commercial development opportunities. It’s a great place to invest.”

NEWCASTLE

WITH exciting new business and industrial developments emerging all the time, Newcastle offers a wide and attractive choice for investors.

The city centre is home to several high-profile sites led by the likes of Citygate and Trinity Gardens. Citygate on St James’ Boulevard is slowly transforming the Gallowgate area of the centre into a prime office sector. The flagship project is a mixed-use scheme with 1,400 sq m of space. Other developments are taking place in the area and will provide 10,000 sq m of space by 2010.

Smaller developments like Buddle House – a new flagship property offering, in a prime location overlooking the River Tyne – and John Buddle Work Village add to the growing opportunities for businesses looking for flexible premises.

Outside the city centre, developments such as Newburn Riverside and Newcastle Great Park are taking shape. Major development is currently under way to regenerate the waterfront of Newcastle’s Walker area in the east of the city – creating opportunities for maritime companies.

Allied to the exciting Science City proposals, it's easy to see why commercial property opportunities are growing quickly. Barry Richardson, economic development group manager at Newcastle City Council said: “We aim to create an environment where people compete to invest, not just want to invest. We boast a range of key sites and are
keen to help businesses looking to grow.”

NORTH TYNESIDE

NORTH Tyneside has many attractive commercial, industrial and retail developments for investors – including several key sites along the vibrant A19 corridor. These sites are well served by excellent transport links and a good infrastructure.

The area boasts many state-of-the-art facilities including Quorum – over 1.5m sq ft of commercial space; the fast growing Cobalt; Orion; and Gosforth Business Park. Flexible accommodation is provided at the impressive Fabriam Centre and there is a range of retail and office opportunities at Royal Quays.

The well-established and popular Tyne Tunnel Trading Estate is also being revamped and transformed into a modern hi-tech business park. Shipping company Hanseatic recently moved to the park with support from Tyne and Wear Development Company.

North Tyneside cabinet member for regeneration, Coun Jim Allan, said: “North Tyneside is a real powerhouse of regeneration for the North East. In recent years we have worked closely with developers to encourage a good supply of high quality commercial accommodation which will in turn attract high quality jobs.

The council’s economic development team can help businesses source suitable premises, whether they are already trading in the borough or looking to relocate.

SOUTH TYNESIDE

IF YOU’RE looking for state-of-the art premises, with quick and easy transport links to the UK and Europe, plus unrivalled business support then look no further than South Tyneside.

Home to Siemens, VA Tech and Barbour, it is currently undergoing a major property boom with over 500,000 sq ft of new industrial and office premises being developed.

Monkton Business Park, near Hebburn, offers contemporary, flexible industrial and office units catering for the needs of both new and existing companies.

Meanwhile, state-of-the-art office and manufacturing units are also available at Boldon Business Park, close to the A19 as well as at Simonside East Industrial Estate in South Shields.

South Tyneside has lots to offer businesses, including quick and easy transport links directly onto the main northern trunk roads. It is also home to Port of Tyne, one of the largest ports in the UK, offering commercial and passenger routes to Europe and the rest of the world.

Many investors are already taking advantage of the superb packages of business support available. In April, Garlands Call Centres opens the doors of its purpose-built premises at Market Dock North, creating 1,000 jobs in the area.

Councillor Eddie McAtominey, lead member for jobs enterprise and regeneration, said: “There has never been a better time to invest in South Tyneside. We were recently awarded a multi-million pound Local Enterprise Growth Initiative. Combined with the state-of-the-art premises we can offer, it is excellent news for investors.”

SUNDERLAND

WITH regeneration projects totalling more than £2bn, Sunderland’s portfolio of top quality commercial premises continues to expand. Doxford Park has been joined by developments of the stature of Rainton Bridge South.

The £100m business park is among the best in Europe and development of the second phase is now well under way, with a range of office units available for businesses
of all sizes. A key
attraction is the high-end telecommunications and network facilities available. This includes the cutting edge E-volve business centre. The £8m building, which received its first tenants last year, is a developing hub for knowledge-based information and communication technology businesses.

Besides Rainton Bridge, Sunderland Enterprise Park also has excellent facilities and a top location. Other high calibre developments in the heart of the city are Argent Business and Conference Centre and Sunniside Gardens. Adderstone Group recently got planning consent to create a new £18m business park, creating 42 new office units, totalling 100,000sq ft, on the former site of one of Sunderland’s most famous shipyards – the Austin and Pickersgill yard at Southwick.

Tom Hurst, chief investment officer at Sunderland City Council, said: “We’re continuing to attract investors – big and small – thanks to the facilities, business support and quality of life we can offer in Sunderland.”

PROPERTY SHOW IS KEY TO MOVING

A MARKED number of North East businesses are moving to larger premises, according to a leading commercial property investment and development firm attending this year’s Tyne and Wear Commercial Property Show.

UK Land Estates has noticed continuing activity in the region’s commercial property market, with a rise in businesses expanding to bigger industrial units. The North East’s largest commercial property investor already has a £600m investment portfolio, 95% of which is in the region. It also has an ongoing development programme valued at £600m.

Lisa Hunter, from UK Land Estates, said: “We are constantly developing and refurbishing sites and there is a strong demand for larger industrial units. We have recently completed three developments at Teesside, Tyne Tunnel and Nelson Park Industrial Estate, Cramlington and already the two units at Teesside are let.

“We’re also finding an increased demand for hybrid units which offer 50-50 office and storage/workshop accommodation. We have recently completed 10 units at Boldon Business Park and a further seven at Sunderland Enterprise Park.

“Industries such as all-in design and marketing companies and other service based sectors require more storage
space or areas designated for workshop production. These units are ideal as traditional industrial units usually only offer 10% office space and offices have no workshop areas.”

Lisa continued: “The Commercial Property Show is an excellent opportunity for people to come along and get face-to-face advice from ourselves and the other exhibitors as businesses are not always aware of what is available to them or the different costs involved in setting up and running a business.

“This is also an ideal opportunity to showcase new developments that are coming onto the market and is the perfect chance to get some great free advice.”