Aycliffe Today Business Aycliffe Today Business issue 34 | Page 21

The magazine for Aycliffe Business Park | 21
More than
500k sq ft
and 51 deals
done in
under five
years
S
ince the beginning of 2017, M&G Real
Estate has completed 115,900 sq ft
of lettings taking the asset to 90.65%
occupancy.
Having acquired the 677,000 sq ft site in
2013, over half a million square feet has been
let in 51 deals.
The year included the letting of space at
three key properties on the site, including
23,500 sq ft to the Centre for Process
Innovation on Durham Way South, 15,000 sq
ft to Schlegel on Redworth Way and 48,250
sq ft to PWS Distributors at Central Park. The
site is managed by M7 Real Estate.
M&G Real Estate acquired the 677,000
sq ft site in 2013, and 51 deals over the past
four years have resulted in the letting of over
589,000 sq ft.
David Crowley, Director, Logistics and
Industrial Asset Management and Leasing at
M&G Real Estate, said: “The revitalisation of
S
LA
M7 Real Estate, added: “By working in
partnership with M&G Real Estate, we
have successfully executed our active asset
management strategy and delivered a
material improvement in the occupancy of
this asset.
“We expect further tightening of supply
to continue for well refurbished space on
Aycliffe Business Park and along the A1
corridor which should lead to further rental
growth.”
Connect Property North East and JLL act
for the landlord.
IT
UN
N
MI
E
T R
G
IN
Aycliffe Business Park underlines the success
of M&G Real Estate’s investment strategy of
acquiring assets with strong fundamentals,
particularly with excellent accessibility, high
quality existing tenants and potential for
growth. The race for shed space means
the importance of creating value at existing
assets has never been greater.
“Our relationship with M7 Real Estate and
subsequent asset management initiatives
have resulted in decreasing void rates and
continued rental growth.”
Sadie Fitzpatrick, Asset Manager at
To Let To Let
Industrial/ Warehouse unit
Cumbie Way
Newton Aycliffe
Approximately 283 sq m
(3,056 sq ft) Industrial/ Warehouse Units
Northfield Way
Newton Aycliife
Approx 334.63 sq m (3,602 sq ft)
– 563.90 sq m(6,070 sqft)
CONNECT
PROPERTY
01642
602001
www.cpne.co.uk
NORTH
EAST