Commercial Property News

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Monday, November 07, 2023

Knight Frank wins massive North East England instruction

The Newcastle office of international property agents Knight Frank has secured probably the largest industrial instruction in the North East for a number of years.

LG Philips Displays, which recently announced the closure of its premises on Belmont Industrial Estate, Durham, has appointed Knight Frank to market the site. The extensive premises provide 45,491 m2 (489,668 sq ft) of factory and office space on a prominent site adjacent to the A1 of 13.54 HA (33.45 acres).

Offers are sought for the premises in excess of 5 million.

Originally built in 1971 and extended in 1995, the site at Belmont has been LG Philips' main UK facility for the production of cathode ray tubes for television sets. At its peak the factory, which boasts over nine miles of internal conveyors, produced 3.5 million tubes a year and employed 1,450 personnel.