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News Release

Newcastle

Tyne Valley Retail Park granted planning permission


Newcastle, 6 March 2013 – Rokeby Developments, in conjunction with Network Rail, have secured planning permission for Tyne Valley Retail Park on the former Station Goods Yard in Hexham, Northumberland.  The retail park will comprise a total of 3,229 sq m (34,757 sq ft) of new retail warehouse accommodation together with a refurbishment of the former Engine Shed, designed by Thomas Prosser, the first architect permanently employed by the North Eastern Railway.  The wider scheme will also include an element of office and industrial accommodation and much needed car parking space and disabled access to the north of the station.

The scheme has been on the drawing board since 2006 and comes at a time when there is growing concern about the number of vacant shops on the high street within the town.  It is a major investment and together with the proposed new Next store adjoining Tesco represents a vote of confidence in the town.
 
Terms have been agreed with Homebase, Pets At Home and Majestic Wine and there is one remaining unit of 698 sq m (7,500 sq ft) available to let.  The developers are being advised by Jones Lang LaSalle and Knight Frank.
 
Jonathan Sykes, Lead Director of Jones Lang LaSalle’s Newcastle office commented “The scheme will regenerate an area in the town that has been derelict for some 20 years.  It will help stop the leakage of retail spend and combines heritage with new development.  The strength of the tenant line-up illustrates that there is a gap in the market within an affluent catchment area and we are seeking interest in the final unit.”