UK Land Estates is investing £8.5m into the creation of new industrial bases at two of its major business parks.
The property company is ploughing the multimillion-pound sum into creating space for companies looking for manufacturing or distribution facilities at Eighth Avenue East in Team Valley, Gateshead, and at Teesside Estate. Four new industrial units are taking shape in all, which will be open by summer, including a 35,000 sq ft speculative industrial building on the Team Valley.
Meanwhile, three smaller buildings ranging from 8,000 sq ft to 20,000 sq ft, designed for the same use, will also be marketed at the Stockton based industrial park. The buildings are due to be completed by the end of May. Tim Witty, development director at UK Land Estates (UKLE), said that bringing the units to the market was proof that the firm remains ambitious and proactive.
