A new multi-million-pound build is expanding the North East’s largest trading estate.
Team Valley Trading Estate owner, UK Land Estates, has started work on the development of a huge 65,000sqft warehousing unit on Centralway.
‘Centralway 65’ is being constructed speculatively to serve the warehousing and distribution sectors.
Located in the heart of Team Valley, directly to the rear of the newly refurbished St George’s House, it is the largest single unit speculative industrial project on the estate in recent years. Work is well underway, with the building’s steelwork already in place.
Tri Construction has been appointed principal contractor for the project following its successful completion of a large refurbishment at Tyne Tunnel Estate for the consolidation and relocation of Lookers.
UK Land Estates is investing over £6.5m into Centralway 65, which will grow the 20,000 people already working at the region’s premier business estate.
Adrian Bartle, UK Land Estates Construction Director, said: “Team Valley remains at the forefront of business in the North East and this project reflects our ongoing commitment to providing high-quality space in locations where companies can thrive.
“We’re excited to see construction underway with Tri Construction and welcoming a new occupier soon.
“We’ve invested tens of millions of pounds into developing units and retrofitting existing buildings on Team Valley and this is a site we’ve been looking at for some time. Centralway 65 has the potential to create vital jobs in Gateshead.
“It is in a great location at the heart of the estate offering fantastic access to transport links and amenities, so we see it being an attractive proposition for growing firms and those looking relocate.”
The building provides quality, modern industrial space. Designed to exceed industry standards, it offers flexible workspace with parking and loading facilities. It also has 10m eaves, a photovoltaic array providing 74kWp and EPC A+ rating.
Jack Bruce from Tri Construction, said: “Tri has a fantastic working relationship with UK Land Estates, delivering a range of successful projects from refurbishments to new builds, across the region.
“Centralway 65 is another landmark project and delivers an industrial unit that is perfect for modern business, with excellent access, energy efficiency and space for employees all in the heart of the region’s best business park.”
Investment in Centralway 65 and forthcoming proposals for Kingsway North are part of a wider investment drive by UK Land Estates announced earlier this year.
Over the next two years, the company has ringfenced £35million to construct over 270,000 sq ft of new, Grade A industrial and warehousing space from Northumberland to Tees Valley.
UK Land Estates Property Director, David Gibbs, said: “Team Valley is the region’s premier business estate, housing hundreds of businesses and over 20,000 employees, and intend to drive this forward with more ambitious development and refurbishment plans.”
“There is a real shortage of prime, Grade A industrial space, not only in the North East but across the UK, and this investment will go some way to helping address this dearth of supply.
“By providing high quality, sustainable warehousing and logistics space on business parks with fantastic access to the region’s main transport links, UK Land Estates is supporting vital supply chains and boosting the regional economy.”
For more information on UK Land Estates, visit: https://uklandestates.co.uk/