Commercial Property News

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Wednesday, October 17, 2023

30m scheme in North East gets the green light

Full planning permission has been granted for the development of a 30m mixed use business park at Newburn Riverside. Already described as one of the North East's premier commercial locations, Caddick Developments Ltd., in conjunction with CBRE Investors, will now take forward a comprehensive programme of development to provide 52,000 sq ft of office accommodation and over 180,000 sq ft of industrial space in the next phase.

Sanderson Weatherall acted as development advisers for Caddick Developments and will now market the speculative scheme going forward. Robert Patterson, director at Sanderson Weatherall said: "This is fantastic news for the region, ensuring plans for a first class mixed use scheme are brought to life.

"Supplying some of the only available office space west of the city, the office developments will create a gateway to the business park to form what is arguably the most important phase of the scheme. Furthermore, the industrial offering will bring a much needed supply to occupiers looking to establish themselves in this prime location in the A1 corridor. On completion, this 4.8 hectare phase will cement the park's status as one of the leading out of town commercial locations in the North East."

Myles Hartley, director at Caddick Developments added: "We are delighted to have now obtained planning for Newburn Riverside and are poised to drive this forward with works starting on site by the end of the year. Providing a combination of an office and industrial offering finished to the highest standard and with BREEAM (Building Research Establishment Environmental Assessment Method) 'Excellent' ratings, the site will undoubtedly prove attractive to a range of occupiers looking to locate in the region whilst creating hundreds of jobs."

Situated on the north bank of the River Tyne just 4.5 miles west of the city centre, the 92 ha Newburn Riverside site is one of the largest land reclamation schemes in the UK. Following initial phases, the scheme has already seen great success attracting prestigious occupiers such as DEFRA, the Northumberland and Tyne & Wear Strategic Health Authority and the North East Ambulance Service.