Mandale Park phase 2 to trigger potential major job creation in Durham Construction is now underway on a new industrial and warehouse development located on the site of the former LG Phillips site at Belmont in County Durham, signalling an upturn in the fortunes of the North East Industrial market according to Chartered Surveyor Connect Property North East and Bilfinger GVA.
Mandale Developments are now on site speculatively constructing the North East’s largest new-build industrial scheme for more than 8 years comprising circa 180,000 sq ft of accommodation in 9 buildings, the first phase of which will be ready for occupation in early 2016. The high specification industrial buildings will be available to let ranging from approximately 3,500 sq ft to 50,000 sq ft. The site itself is strategically located at junction 62 of the A1 (M) on Belmont Industrial Estate, Durham and is already houses a number of key occupiers that include Arriva, Godfrey Syrett, Carlsberg and more recently Geopost, who acquired the former City Link building earlier this year.
Mandale acquired the site back in 2005 when the LG Philips facility closed with the loss of approximately 750 jobs and immediately got to work with the speculative development of over 50,000 sq ft of speculative office space comprising of 11 separate buildings. Joe Darragh of Mandale commented, “following the success of the first phase office development, we are excited about the prospect of developing a modern, high-specification industrial scheme to complement the existing office and industrial offering on the estate. We are already receiving strong expressions of interest and expect to agree the first industrial letting very soon”
Tim Carter of Connect Property North commented “It is excellent news to see the scheme underway, particularly given the increasing shortage of good quality industrial stock throughout the North East. The early interest we are seeing in the scheme is very encouraging, particularly at this stage of construction. The site is well positioned to satisfy requirements from Newcastle and Washington to the North, Peterlee to the East and Newton Aycliffe to the south and the additional bonus of each building having dedicated yard areas will be viewed as advantageous among most potential occupiers.”
Danny Cramman of GVA said ‘The supply of good quality industrial stock in the region is at an all-time low and we are well behind our partners in the Northern Powerhouse in bringing forward speculative development. This is a great statement of confidence in the region by Mandale and we are confident the scheme will be a great success.’
Tim Carter added “the development is great news for the wider economy with the potential to create new jobs as part of the initial and longer term development.