REAL ESTATE
HOT PROPERTY
Boom time is here and now for Teesside , says commercial property agent Parker Barras
On the up – Parker Barras founder and director John Taylor , wearing the blue and white tie , alongside his team .
WORDS : GRAEME ANDERSON
Two major but very different commercial property deals in the Tees Valley help illustrate how the region ’ s economy is on the up , says John Taylor , head of Parker Barras .
The first is an extensive development of the two-acre P Woodhouse Coal Merchants site on Commercial Street , Riverside Park , in Middlesbrough .
The second is a transformation of Stockton ’ s derelict former Mile House Inn into ultramodern commercial premises serving the community .
Parker Barras , one of the leading commercial property agents in the Tees region , has been involved in work restructuring both deals .
And John Taylor , founder and director of Parker Barras , says the projects are part of a tidal wave of improvements and strategic developments currently transforming the look and feel of the Tees region for the better .
“ In terms of the commercial property market in Teesside at the moment , it all seems very positive ,” he told Tees Business .
“ In fact , the only word I can think of to best describe the commercial property sector is ‘ booming .’
“ The P Woodhouse site is an example of that . We ’ ve recently acquired it for a client with a view to turning it into high-quality warehouse space and the creation of up to 20 industrial units .
“ We ’ re putting a planning application in for the units – which will give opportunities to smaller companies just starting out on their business journeys , with units ranging from 1,000 to 2,000 sq ft – but we ’ re already pressing ahead with redeveloping the 16,600-sq ft main building to provide much-needed , high-quality facilities by the river .
“ It ’ s going to be a major refurbishment – reroof , reclad , new bathrooms etc , creating a modern , fit-for-purpose , warehouse / industrial site with its own gated yard and weighbridge . We expect that to be completed and ready for rent by the summer .
“ The new facility will address the high demand for storage spaces because as Teesworks and Teesport continues its expansion , it is having a knock-on effect .
“ It has massively affected land values , there has been a visible spike in prices .
“ Hundreds of millions have been poured into redevelopment , creating thousands of jobs , and as the economy has grown , so has the need for high-quality space , which the high-quality storage offered by the P Woodhouse site will rise to meet .”
While the repurposing of the long-time coal merchants ’ premises will be a boon to business on the Tees , the redeveloped Mile House pub site on Durham Road in Stockton will have benefits for the local community .
Within six weeks of a legal decision giving permission to develop the eyesore site , a fully operating drive-thru Starbucks coffee shop was created , with plans advancing to provide premises for a national firm of vets , a hair salon and a national baker .
Once again , Parker Barras played a major role in securing tenants , helping the project progress .
John said : “ Getting planning permission was not straightforward but it ’ s hard to argue that the site is not vastly improved .
“ The Mile House had been a landmark site because of its position , and so it ’ s pleasing to have secured tenants to enable this prominent site to be brought back to life and use again .
“ It ’ s now a vibrant place , bringing jobs and services to the local community and economy and it ’ s just another example of how the Tees region is restoring itself and creating new options and opportunities locally .”
Parker Barras has been operating in the commercial property sector since 2007 , winning multiple awards during that time as its services expanded and reputation grew .
Two new staff were recently taken on and more are to follow in its surging business sales department .
But John believes the best years are very much still ahead of the company .
“ We ’ ve got a large database of local and national clients looking to acquire and occupy space .
“ But we ’ re also seeing Teesside beginning to fulfil its true potential right now , and Parker Barras is thrilled to be playing a part in that .”
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