Park a draw for cutting edge business
The site reached practical completion at the beginning of June, and just a month after opening its doors potential occupiers are flocking in.
A total of 45,000 sq ft – 25% of the space available in the first phase of the development – has been leased, while a contract pending with an additional business would see the figure rise to 50%.
One business, which is yet to be named, is expanding into Middlesbrough and has taken two units totalling 30,000 sq ft – further details are expected to be released in coming months.
TeesAMP is poised to become a focal point for innovation and advanced engineering in the North East, and is a significant development for the region’s already renowned advanced manufacturing sector.
The first phase of the development offers 180,000 sq ft of high specification business accommodation, which has been led by developer Chaloner Group and constructed predominantly by a North East-based supply chain, including main contractor Robertson North East and Stockton steel fabricators Nationwide Structures.
The second phase of the development will provide flexible building opportunities to further attract innovative manufacturing companies to the region.
Geoff Hogg, Chief Executive of Chaloner Group, said: “The interest in TeesAMP from the manufacturing sector has been considerable, and we’re delighted to see a significant proportion of the site leased in such a short period of time.
“We’re confident that 70% of the space will be leased in the near future, at which point we can begin on phase two of the development.”
Stephen Brown, Senior Partner at agents Dodds Brown, said: “This is a fantastic development and proof that if you provide quality accommodation in a well-located environment, you will attract investment and create quality new jobs.”
Richard Scott, Partner at agents Cushman and Wakefield: “The completion of these deals during lockdown underlines the quality of the units and strength of location, and highlights the continuing strength of the industrial sector in Teesside.”
Councillor Ashley Waters, Middlesbrough Council’s Executive member for Regeneration, said: “TeesAMP is a vibrant symbol of Middlesbrough’s drive and ambition, not just for the town but for the whole area.
“It’s a fantastic offer for businesses, and the proof of that is the speed at which the units are being snapped up.
“It’s great news for Middlesbrough, and will prove a terrific catalyst to creating jobs and long-term prosperity.”
TeesAMP has been funded by £12.5 million from Middlesbrough Council, £7.65 million from TVCA and £2.3 million from the SSI Taskforce, the body set up to support regeneration after the closure of the SSI steelworks, and substantial private investment.
To enquire about available units, please contact one of TeesAMP’s agents:
+44(0)1642 244 130
+44(0)7973 732 260
+44(0)1912 233 5711
+44(0)7787 697 757