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News Release

Newcastle

Faverdale East Business Park fully occupied


Newcastle, 7th November 2011- Jones Lang LaSalle has let the last remaining unit of 30,000sqft at Faverdale East Business Park, Darlington to Cosentino UK.  Since being appointed as letting agents for Faverdale, the firm of property advisors has successfully secured occupiers for 150,000sqft of the 190,000sqft business park, which is now fully occupied.
 
Faverdale East Business Park is a speculatively built industrial and distribution park, which was developed by industrial property specialists, Easter as part of the Easter Development Partnership.  The Park is situated on the outskirts of Darlington town centre close to Junction 58 of the A1(M) and sits alongside the 760,000sqft Argos Direct regional distribution centre and the Aldi distribution centre totalling 360,000sqft.
 
Jones Lang LaSalle’s previous lettings on the business park include a 100,000sqft unit to Cold Store Logistics Ltd on a 15 year lease and earlier this year they also sold a 20,000sqft industrial unit to Tekmar, a North East marine engineering specialist.
 
Simon Hill, Director of Agency at Jones Lang LaSalle said: ‘We are delighted to have successfully completed three out of four major deals at Faverdale, bringing the business park to full occupancy.  The quality and flexibility of accommodation on offer has attracted strong occupiers along with the excellent road links to all parts of the region, making it an excellent distribution location’.
 
Roland Lee, Director at Easter said: ‘It is fantastic to welcome Cosentino to Faverdale East. They join a strong list of occupiers on the Park completing what has been another successful development for Easter in the North East.”
 
The new occupiers, Cosentino UK, form part of the Cosentino Group, which for 70 years has specialised in stone quarrying, manufacture and fabrication.  The businesses main Headquarters are in Hampshire.

Maurice Johnson of Hurst Warne who acted for Cosentino added that “This was a strategic acquisition for Cosentino in order to supply the North of the Country. The unit at Faverdale was the best unit we could find in Darlington and we are very happy that we successfully concluded the deal”
Joint agents on Faverdale Business Park are Jones Lang LaSalle and Sanderson Weatherall.