On the property front

Mar 18 2008 by Karen McLauchlan, Evening Gazette

THE first sale has been completed on the new Opus Park development on Teesside which has benefited from a £2.3m refurbishment since the closure of the former MFI factory. Unit 1A with 30,000sq ft, has already been sold to Hull-based developers Osprey for £1.25m. The tenants are MKM Builders. Two further buildings are under offer with strong interest being shown in the remainder of the site. Yorkshire-based developer Opus Land has turned the 360,000sq ft ex-MFI site into a modern industrial and warehouse complex with unit sizes ranging from 9,300sq ft to 150,000sq ft.

TEES Valley schemes will find out next month if they are winners in this year’s North-east property “oscars”. Judges of the North East Renaissance Awards 2008 are currently assessing around 63 entries and a healthy mix have been submitted by Tees companies. Local projects include the self-designed offices of DKS Architects, Stokesley; a Yuill Homes mixed-housing development in Middlesbrough and a block of flats and bungalows for people with care needs in Stockton. Now in their fifth year, the awards were established by the Royal Institution of Chartered Surveyors (RICS) and are open to all building, construction and landscaping projects in the North-east. The awards ceremony takes place on Friday, April 18, at the Civic Centre in Newcastle.

BUSINESSES Looking to expand or relocate can find help at a key North-east commercial property show. The Tyne and Wear Commercial Property Show takes place at Newcastle’s St James’s Park on Thursday, April 3. More details from www.commercialpropertyshow.co.uk or call 0191 516 9099.

DEVELOPER Jomast has announced plans to build phase two of its business park just outside Seaham in County Durham. The Stockton-based developer has been granted full planning permission to construct a further 40,000sqft of office and industrial space next to its existing commercial development. The final phase of the multi-million pound development, next to the successful Spectrum Business Park, is expected to create several hundred new jobs both during and after the construction process, and work is due to begin later this year. Plans outlined by Jomast Developments include a four-storey office building, several industrial units ranging from 2,500sqft to 10,000sqft, and studios for small and medium-sized enterprises.