| Major Investment |
The Redforrest Group Ltd have completed the purchase of units 3 and 4 (totalling 32,000sqft), together with the lease of the adjacent unit 2 (20,000sqft) at Queens Court, the recently completed development by Buildings for Business on Team Valley.
Queens Court is a mixed industrial and office development situated within the heart of Team Valley, on the former Dunlop factory site. The site has been transformed from a dilapidated empty factory to offer four hybrid units of 3,300sqft, two offices of 2,700sqft and four large industrial units from 14,673sqft up to 29,346sqft. Buildings for Business commenced work on the £7.5million development in late 2007 with completion in late 2008 and already over 75% is let/sold or under offer.
Gary Hudson Development Director said. “We have been working with Redforrest for over 5 years as an existing tenant within the estate to meet their long term needs to expand and relocate to new modern premises when the time was right for them. We are delighted to welcome them to Queens Court and wish them every success in their brand new facilities”.
The Redforrest Group Ltd consists of Astley Signs, one of the UK’s leading signage manufacturers, the trade division Professional Sign Systems and the large format digital print division, Jigsaw.
David Cramond, Director of Capital Development at One NorthEast said: “The former Dunlop site always had great potential, and I’m delighted that we have been able to work towards converting it into a thriving business centre.
“Queen’s Court will provide much needed, high quality office, workshop and industrial space for the region’s businesses, and it’s great news that the Team Valley has retained such a successful company for over 20 years. The continuous creation of business developments like this is vital if we are to achieve the ambitious RES target of creating up to 22,000 new businesses in the next decade.”
Team Valley is still one of the greatest generators of wealth for the North East region. At over 7m sqft, the Valley is estimated to be home to 24,000 employees and over 740 businesses and is still the largest industrial estate in the UK in single freehold ownership.
Michael Spriggs, Chief Executive of Buildings for Business said: “This is great news for the region, The development has the potential to create 400 jobs and bring further success to the internationally recognised Team Valley. We were extremely pleased to re-house the Redforrest Group and wish them every success for the future.”
Queens Court is a high specification development with individual industrial buildings with a dedicated entrance off Earlsway. Set adjacent to the green open landscape areas of the River Team it is within close proximity of the services offered by Maingate and Retail World. The site is located in close proximity to the break out space of the River Teams walkway and landscape area together with the facilities such as hotel, shops and gym provided by the Maingate development.
Back