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News Release

Newcastle

A good year at Aycliffe Business Park, Newton Aycliffe


Newcastle, 23rd February 2012 - Valad, the European multi-let real estate investment manager, has completed 228,500 sq ft of lettings and sold 121,500 sq ft of industrial and office space at Aycliffe Business Park, Newton Aycliffe.
 
All transactions were completed in the past year on behalf of The Industrial Trust.  Valad were advised by Jones Lang LaSalle, Sanderson Weatherall and Morganfield Developments who act as joint agents on the business park.
 
Aycliffe Business Park is the second largest business park in the North East of England, covering approximately 672 acres and is home to over 250 companies. The new tenants include Stiller, Husqvarna, Katell and Raisco while units were sold to A-Tech Fabrications, Finleys and BTS, which also holds an option to purchase a further 50,000 sq ft.  It provides an ideal location for a wide range of occupiers.
 
Rob Howe, Head of UK Real Estate at Valad, commented: “Valad’s success at Aycliffe Business Park is the result of extensive refurbishment and a transformational asset management programme which was put in place following our acquisition of the Park in 2008. The lettings activity in particular has helped us significantly decrease the void on The Industrial Trust portfolio which is a great result for the fund investors. As demonstrated by these transactions, the Park now provides the type of industrial and office space which is in demand from businesses looking to consolidate or establish their presence in the North East of England.”
 
Emily Seager, Senior Surveyor in Jones Lang La Salle’s Newcastle office, added: “Aycliffe Business Park offers flexibility and good value to occupiers who are looking for industrial accommodation in a prime distribution location which benefits from excellent road links to the A1 and access to a highly skilled workforce.”
 
John Manners, Managing Director of A-Tech Fabrications who has purchased a 55,000 sq ft unit at the park, said: “We realised in 2010 with the recession and the state of the economic climate that the only way forward for A-Tech to achieve its goals was to expand the size of the building we were working from. Aycliffe being our first and only choice because of its excellent location and very good infrastructure, and with the help of our local Barclays Business manager Martin Brown, Jones Lang La Salle’s surveyor Emily Seager and Solicitor Debra Swinburn of Evans & Co, we were able to move very quickly to acquire a prime site. We are now looking forward to a great future for both A-Tech and the people who work with us. We are very proud, as a progressive company, to be associated with Aycliffe Business Park and the other world class companies that are located here.”
 
The Industrial Trust is a UK multi-let industrial fund asset managed by Valad and fund managed by Rockspring Property Investment Managers.
 
With offices in London, Leeds and Edinburgh, Valad’s UK real estate team manages over 14 million sq ft of commercial and industrial space, across 260 properties.