IAMP countdown boosted by £70m investment

CGI of the site

IAMP countdown boosted by £70m investment

North East-based developer Town End Farm Partnership (TEFP) is driving plans to create a £70m automotive investment hub next door to Sunderland’s Nissan site.

The ‘Wear Point 55’ proposal, which will soon be submitted to Sunderland City Council, has the potential to deliver more than 1300 jobs through the development of a 1 million sq ft manufacturing space.

The proposed investment would include two new factories for Tier 1 suppliers to Nissan and 100,000 sq ft for commercial use. The proposed Tier 1 supplier units are designed specifically to meet the Japanese car manufacturer's new car production timescales and expansion plans as it plans to launch new models in 2020.

TEFP has worked with international businesses to secure a major occupier for the site to deliver jobs and investment to the area. The developer has owned the 55-acre site for 10 years and has been working to design a project that meets Sunderland’s manufacturing growth ambitions.

TEFP director Peter Razaq said: “Our development will secure investment to support the future growth of arguably the region’s most important employer in Nissan.

“This comes at a time when businesses across the country are looking for reassurances that trade and manufacturing with the UK can continue post Brexit. Our plans put the Northeast at the very heart of the resurgence of the country’s manufacturing sector.”