Creating a Wealth of New Jobs at Eastern Avenue
November 21st, 2008.
The former Jockey manufacturing factory on Eastern Avenue, Team Valley has been transformed by Buildings for Business, the partnership between UK Land Estates and One NorthEast, to provide modern industrial premises alongside a new trade park scheme of which three units are already let.
A selection of local agents came down to site to celebrate the official opening of the development, which is already proving to be very successful.
The 3 acre site, which had been vacant since Jockey ceased manufacturing in 2004, has been demolished by STP Construction to create a development of nine trade park units totalling 2,230 m2 (24,000 ft2) and a 1,858 m2 (20,200 ft2) stand alone industrial unit. Already three of the Trade Park units are let to Tool Station, Taps and Morrells and a further two are under offer.
Iain Slater, for Buildings for Business said: “This is one of the first regeneration projects on the Team Valley for over two years. It is anticipated that the development will create over 130 jobs and bring a wealth of trade to one of the UK’s largest business parks.”
Keith Stewart of Naylors who is joint letting agent on the scheme with Knight Frank commented, “Team Valley still remains the premier location in the North East for new and existing businesses which is confirmed by the fact that we had three pre-lets agreed before PC. We have not seen a great deal of new accommodation on the Valley for some time so we anticipate that this development will be a huge success given the high quality product and its location on one of the busiest thoroughfares on the Estate. ”
The scheme is just one in a number of developments that Buildings for Business have been involved in over the past two years including hybrid developments Sunderland Boldon Business Park, a two storey office at Balliol Business Park and an industrial scheme at Nelson Park, Cramlington. Work is also progressing on the former Dunlop factory on Team Valley which will see approximately 12,075 m2 (130,000 ft2) of hybrid and industrial space to be completed in late 2008.
