Speculative Team Valley development gets underway

Speculative Team Valley development gets underway

The first speculative SME development in Team Valley for eight years is officially underway and could create up to 50 jobs.

The £1.6m Earlsway Trade Park development, boasting 22,000 sq ft of trade counter and workshop units, is being brought forward by The Northumberland Estates.

The site is located at the Northern end of the Team Valley and was acquired by The Northumberland Estates from UK Land Estates in 2014 as part of a larger strategic portfolio.

Michael O’Driscoll of The Northumberland Estates said: “We are building on the trade park uses of surrounding schemes including the likes of Bamburgh and Craster Court.

“The units themselves have been designed to fill a void in the market and initial interest occupier levels certainly support this with a number of negotiations already underway.”

The surrounding area has benefitted from significant investment in recent years with the arrival of Maingate with its abundance of amenities including O’Briens, Greggs, HSBC and Gymetc as well as The Premier Inn and Valley Farm Restaurant, both of which are close by.

The news follows the recent announcement that The Northumberland Estates has let the first phase of its £12m speculative industrial scheme, Axis 19, in North Tyneside to Advanced Industrial Solutions (AIS).

Naylors has been appointed as letting agent alongside Cushman and Wakefield on Earlsway Trade Park.