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News | Independent Commercial Property Agents | PAI

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Speculative Team Valley scheme over 65% let

Monday, 24 September 2018

Speculative Team Valley scheme over 65% let

A speculative trade park development at Team Valley in Gateshead has achieved over 65% occupancy, leaving only three properties remaining. 
Comprising of nine new units, Earlsway Trade Park was developed by Northumberland Estates to provide quality commercial accommodation for a wide range of occupiers. 
Since completion of construction, the scheme has attracted a number of new tenants including Ward Air, Camden Group, Buy Smart and Q Interiors. 
Most recently, PAI member Naylors has secured two further lettings to craft gin and beer producer, Steampunk Ltd. as well as lawn treatment specialists, Green Thumb.
Keith Stewart, director at Naylors said: “The success of Earlsway Trade Park has come as a result of the strength of the location but also the quality of the design and construction of the scheme. 
“The Team Valley continues to be one of the most sought after locations in the region, largely due its accessible location and close proximity to. The scheme is now home to real mix of business types, which is fantastic and will undoubtedly help it flourish over the years to come.”
Naylors anticipates that the three remaining units, which offer accommodation ranging from 1,911 to 3,283 sq.ft, will attract strong interest.
Duncan Christie, industrial agency surveyor at Naylors added: “The development has proved to be very popular amongst businesses looking for a trade counter facility, together with a workshop or office.  The 5.5m internal eaves height means that there is significant space for racking to enable storage of stock and materials.”
Naylors and Cushman and Wakefield are the appointed joint agents acting on behalf of Northumberland Estates.