Popular North Tyneside industrial scheme is now fully let
Our Industrial Agency team has secured tenants for the last remaining unit at the popular Larch Court industrial scheme in North Tyneside, which has resulted in all 17 units being fully occupied.
Acting on behalf of property development company, Hellens Group, we have successfully let the last unit of 1,750 sqft to Hexagon, who design, manufacture and install vinyl glazing manifestations.
The speculatively built industrial and warehouse scheme, which completed last July, comprises a total of 35,000sqft with individual units ranging from 1,500sqft to 3,000sqft. Other tenants that have recently signed up to the scheme include Vreo Innovation, ChipsAway and RS Classic Cars.
Keith Stewart, Head of Industrial Agency said: “Larch Court has been a major success, the scheme’s popularity has exceeded our expectations. The speed with which it has filled up demonstrates the strong demand for good quality, small to medium sized industrial space for SME’s in the North Tyneside area. The North East needs further schemes of this nature to address the diminishing industrial stock and ongoing shortage of new development.”
Hellens Group received financial assistance from the European Regional Development Fund and the NELEP’s North East Investment Fund which enabled the scheme to go ahead.
Gavin Cordwell Smith, managing director of Hellens Group said: “We are very pleased to have been able to bring forward North Tyneside’s first speculative industrial development since 2007. Receiving funding assistance was key to the project’s realisation and we are grateful for this support. We are delighted that the scheme is now fully occupied and has provided much needed high quality workspace for new and growing business in the local area.”