Merchant Park directors Adrian Goodall( left) and Michael Chicken inside the latest 53,993 sq ft warehouse unit, which is 12 metres tall.
The fund provided a seven-figure senior debt package and an additional incentive to bridge the financial viability gap, particularly the infrastructure costs for phases two and three
North East mayor Kim McGuinness said:“ Small and medium-sized businesses are the beating heart of our economy.
“ As mayor, I’ m determined to help them grow, create thousands of new jobs, and deliver real opportunities for people across our region.
“ Developments like Merchant Park show what’ s possible when we invest in our local business community and back their ambition.
“ This new site is already bringing highquality jobs to the area, with even more to come as the project expands.”
Mayor Kim was also pleased to see energyefficient technology, such as heat pumps, roof mounted PV and EV charging supporting the region’ s net zero ambitions.
FW Capital senior investment executive Chris Dixon added:“ Watching developments come to fruition is a very satisfying part of the job.
“ The team at Merchant Park Developments has impressed us with their vision and focus to bring Unit 1 to completion.
“ With excellent road links and quality commercial warehouse and office space, it’ s a great location for any business looking to be based out of the North-East.
“ By supporting speculative development, we’ re giving businesses access to quality premises and showcasing how this fund can make projects happen.”
True to form, Merchant Park have engaged local expertise in the delivery of the project.
Darlington-based Hall Construction Services have built phase one, while marketing is being handled by Jonathan Simpson of Stockton-based Connect Property North East, alongside CBRE’ s Dave Cato.
Jonathan, who has more than 15 years’ experience of marketing Aycliffe sites, said:“ I’ m incredibly proud to be working on another major development in Aycliffe.
“ The business park is probably in the best shape I’ ve seen in 15 or 20 years. There’ s a real shortage of modern industrial space, so we expect strong demand.
There is already big demand for the first phase of the huge Merchant Park development on Aycliffe Business Park, which is now complete.
“ It’ s also testament to Geoff, Adrian and Michael for putting their money where their mouth is. They’ ve consistently backed Aycliffe over the last decade, and it’ s paying off.”
Beyond the immediate economic impact, the new scheme underlines Merchant Park’ s long-term commitment to quality and sustainability.
The phase one building is being developed to BREEAM Very Good standards – a benchmark that reflects best practice in reducing carbon emissions, enhancing biodiversity and improving whole-life performance.
14 | Aycliffe Business