Quality is the watchword at Preston Farm

Apr 30 2008 by Graeme King, The Journal

A HAT trick of deals is being celebrated by agents handling the Halegrove Court development near Stockton. The high quality 30,000sqft scheme overlooking the Tees Gorge at Preston Farm is about to welcome its three occupiers.

Law firm Browell Smith & Co, with headquarters in Newcastle, has bought a 1,500sqft unit for £300,000, while Yarm firm Dennis Harley Developments has bought 1,300sqft for £230,000, and Kinsler Surveyors, of Middlesbrough, has agreed to rent a 1,300sqft unit on a five-year lease, starting at £15.50 per sqft.

The £5m Halegrove Court scheme is a joint development between Easingwold company Halegrove and Leeds group McGinnis Developments.

The scheme provides 17 self-contained office buildings, ranging from 1,300sqft to 3,000sqft, which are available to buy or to let. Ten of the units have now been taken.

The joint agents for the development are Knight Frank in Newcastle and Dodds Brown at Middlesbrough.

Another recently-completed deal saw Alliance and Leicester taking the 1,500sqft unit 11 on a five-year lease. The bank has opened a business centre at Halegrove Court. Halegrove managing director Paul Brown said: “This hat trick of deals demonstrates the attraction of this development. These superb contemporary offices are already proving extremely popular, especially with owner occupiers.

“We can cater for offices up to 3,000sqft, with units doubling up, so their appeal is wide. What is more, the setting is superb, as is the location.

“I am especially delighted at the excellent owner-occupier profile we have at Halegrove Court, including solicitors, architects, surveyors and a bank. Their presence underlines the fact this is a quality development.”

Patrick Matheson, associate of property consultants Knight Frank in Newcastle, said: “There is strong interest in the remaining units from a mixture of owner-occupiers and tenants. Overall we are extremely pleased with the level of interest, given that practical completion was only achieved in September.”

Head of Alliance & Leicester Commercial Bank’s Tees Valley business centre Craig Iley said: “We are delighted to be the one of the first occupiers on site.

“The location is ideal for our catchment area in the Tees Valley, with superb access to the A19 north and south and the A66 east and west.”