Bringing Aycliffe Business Park Together | 21
Hitachi opening
coincides with
major property
activity at
Aycliffe
Business Park
The opening of the new £82m Hitachi
Rail Europe facility in September has
coincided with the park’s biggest letting
of 2015, heralding a shortage of industrial
and warehouse space on the 700-plus acre
estate.
That’s according to Teesside commercial
property agent Connect property North East
(CPNE), which formed earlier this year to
provide investment and occupational advice
across the North-East.
On behalf of MSeven Real Estate, CPNE
has successfully negotiated the letting of 2-5
Central Park, comprising of a 50,000 sq ft
warehouse to Vantec Europe, representing
the estate’s single biggest letting in 2015.
With the agreement to lease having
now been signed, the landlord is due to
complete a major refurbishment programme
to coincide with the letting of Unit 6 to Ceva
Logistics. Work is due to complete shortly,
enabling both tenants to take occupation
later this year.
CPNE director Jonathan Simpson said:
“These two lettings are significant evidence
that both rents and demand have moved on
during the middle part of 2015.
“The issue moving forward now is the
limited availability of stock both in Aycliffe and
the wider region. As far as Newton Aycliffe
is now concerned there is a real shortage of
industrial stock, which is huge testament to
both the improved market and the continued
commitment to the area by a number of
proactive landlords and stakeholders.
“Five years ago, there was over 1.5 million
sq ft of vacant industrial stock on the estate.
“Furthermore, we are hoping to announce
two further high-profile lettings on the estate
shortly, one of which involves the former
Holiways Ford garage on Horndale Avenue.”
Perhaps further evidence to the estate’s
recent change in fortune has been the
owner of Northfield Way’s commitment
to a £1m refurbishment. Works are due
to be completed in November and we are
already in the process of agreeing several
new lettings, including the most recent to
furniture company RDNL Products, which
moved into unit 10 at the end of September.
CPNE was formed in February this year
by Tim Carter with fellow directors Jonathan
Simpson and Andrew Wilkinson joining
forces to create the Tees Valley’s only
specialist niche commercial agency practice.
More information is available at
www.cpne.co.uk
To Let
Industrial/ Warehouse Units
Aycliffe Business Park,
Newton Aycliffe
Jonathan Simpson
1,500 sq ft – 30,000 sq ft
Tom Asher