Plans to develop 4.92 acres of land at Eighth Avenue, Team Valley, into high-spec industrial and distribution facilities have been approved by Gateshead Council.
UK Land Estates will develop two adjoining sites with potential for up to 90,000 sq ft of prime warehouse and office space.
Tim Witty, development director at UK Land Estates, said: “This is an exciting development that can be delivered within 15 months, and we’re hopeful of attracting occupiers to this prime location at the heart of the Team Valley.
“Nationally there is a shortage of high quality industrial space and this development will boost the region’s provision and support economic growth.
“With a portfolio of land including existing planning consents, and a development team that can quickly and efficiently complete properties to client specifications, UK Land Estates provides high quality buildings for business.”
Team Valley is already home to roughly 700 businesses employing more than 20,000 people from the skilled and manual service trade to high end manufacturing and professional services.
Tim added: “Team Valley is already an important industrial location and UK Land Estates has invested significantly in the estate to make sure it leads the market.
“The initial interest in these sites is encouraging and shows confidence in the regional economy.
“We’re pleased to be bringing new grade A industrial property to the area, cementing its reputation as a location that supports the growth of industry.”
CGI of the Eighth Avenue sites showing two separate units. The larger building is Eighth Avenue West and the smaller building alongside is Eighth Avenue East. The sites could also accommodate one larger unit.