A multimillion-pound expansion is underway on the Team Valley
UK Land Estates, owner of Team Valley Trading Estate, has announced a £6.5m investment in Centralway 65 – a new unit spanning 65,000 square feet designed to cater to the needs of the warehousing and distribution industries. The project is located on Centralway in Team Valley and is situated behind the newly renovated St George’s House. This development is also the largest single unit speculative industrial endeavor on the estate in recent times.
Tri Construction, located at Balliol Business Park, has been selected as the main contractor for the project, having recently finished a major renovation at Tyne Tunnel Estate for Lookers. The building’s steelwork is currently in position.
According to construction director Adrian Bartle, Team Valley continues to lead in the North East business scene. This new project is a testament to our dedication towards offering top-notch locations for successful companies. The start of construction with Tri Construction marks an exciting time as we prepare to welcome a new occupier.
“We’ve allocated significant funds towards the development and modification of structures on Team Valley, a location we have been considering for quite some time. Centralway 65 has the potential to generate essential employment opportunities in Gateshead.”
This property boasts an excellent location at the heart of the estate, providing convenient access to transportation and amenities. This makes it a highly desirable option for both expanding businesses and those seeking to relocate.
The new building offers state-of-the-art industrial facilities for tenants, surpassing industry norms. It boasts versatile work areas, ample parking and loading amenities. Its features include 10m eaves and a photovoltaic array that has received an impressive EPC A+ rating.
According to Jack Bruce, a co-founder at Tri Construction, the company has established a strong partnership with UK Land Estates. They have worked together on multiple projects in the region, ranging from renovations to new constructions. Among these successful endeavors, Centralway 65 stands out as another significant achievement. It offers a state-of-the-art industrial unit that meets the needs of today’s businesses. The location provides convenient access and energy efficiency, while also providing ample space for employees within the region’s top business park.
Centralway 65 and the planned developments for Kingsway North are just two examples of UK Land Estates’ commitment to investing in the region. This is part of their larger investment strategy, announced earlier this year, which will amount to approximately £35m over the next two years. The result will be the construction of 270,000 sq ft of top-quality industrial and warehousing facilities spanning from Northumberland to Tees Valley.
According to David Gibbs, property director at UK Land Estates, Team Valley is the leading business estate in the region and accommodates numerous businesses and over 20,000 workers. To further advance its growth, they have ambitious plans for development and refurbishment. The North East and the rest of the UK are facing a scarcity of top-quality industrial space, and this investment will help alleviate this issue.
“Through the provision of top-notch, environmentally-friendly warehousing and logistics facilities situated in business hubs with exceptional connectivity to the region’s key transportation routes, UK Land Estates plays a crucial role in bolstering essential supply chains and driving economic growth within the local community.”