New £6.5m North Tyneside industrial scheme set for market

Brandon Bailey and David Gibbs

Industrial space at a new £6.35m development in North Tyneside is now on the market after being completed by UK Land Estates.

Regional property developer and landlord UK Land Estates broke ground on the huge L7 scheme last summer, amid moves to tap into demand for industrial space. The speculative development has created 73,000sqft of hi-spec industrial and distribution space at the North Tyneside site, and forms part of a £35m investment programme across the firm’s regional business space portfolio.

Brandon Bailey, projects director at UK Land Estates, said: “With a shortage of vacant, high-quality industrial space across the UK, we do not see L7 as a risk. In fact, we are really looking forward to bringing it to market as we expect a great deal of interest.

“It’s one of a number of projects under way that is strengthening our portfolio, but particularly at the Tyne Tunnel Estate, where we are investing £11m in L7, the recent completion of the refurbishment of the former JTF Discount Warehouse building, several smaller C-units and we recently started refurb of another large industrial unit on the site.”

Construction of L7 has been led by STP Construction Limited, with the local supply chain including Thompsons of Prudhoe, Philadelphia Structures, CCS Cladding, Mathew Charlton, ME Electrics and Voltz power services, and design partners including Faulkner Browns, Portland Consulting Engineers and Kinetic Engineers. The development has delivered 72,898sq ft of flexible industrial and/or warehousing, including 5,955sq ft of office space, and will be marketed by Knight Frank and Savills.

David Gibbs, property director at UK Land Estates, said: “This estate is in a fantastic location, close to the main arterial road network and port services. Proximity to workforce and high density housing makes the building an attractive proposition for both manufacturing or distribution. Delivering quality buildings for business on core estates remains our main focus and we have every confidence the building will be well received.

“We’re confident L7 will generate plenty of interest, but it won’t be the only large-scale project on the site and we’re progressing several options to deliver further projects of this size and larger, attracting businesses and creating employment opportunities in North Tyneside.