Newspaper article The Journal (Newcastle, England)

Our Region's Got a Lot More Jobs in Store

Newspaper article The Journal (Newcastle, England)

Our Region's Got a Lot More Jobs in Store

Article excerpt

Byline: By Richard Scott Head Of Industrial Agency At Lamb & Edge

Despite the manufacturing sector in the North-East continuing to under-perform all other sectors, warehousing/ distribution remains buoyant. This has been borne out by several large requirements for the region, which at present remain unsatisfied.

According to the Office of the Deputy Prime Minister the North-East region has approximately 207.85 million sq ft of built industrial floor space.

Some 71pc of this stock is classified as factory floor space with the remaining 29pc being warehousing/distribution. We anticipate these figures will change over the coming years with more emphasis being placed on warehousing and distribution.

The industrial property market has an important role to play in the regional economy, which has been more reliant on manufacturing than other parts of the UK. Warehousing and distribution have not played a major part in the North-East market as historically road transport from other parts of the UK, especially the Midlands, have been relatively quick and cost effective.

Perhaps in response to increasing costs, long distance driving limitations and increased congestion, many companies are now looking at regional distribution centres and the number of enquiries received for large distribution facilities in the North-East is increasing.

There is a general shortage of good quality, modern/new warehouse stock. This is particularly the case in areas where demand is the strongest including North Tyneside, Newcastle, Gateshead, Washington, Sunderland and South as far as Durham.

One existing opportunity being marketed by Lamb & Edge is Brunswick Park, Newcastle. This unit comprises 78,000 sq ft benefits from 8.5m eaves, dock-level loading and has expansion land. It is immediately available and is excellently located five miles north of Newcastle City centre, a short drive from the A1.

New developments planned in the region include a scheme being brought forward in Durham. Junction 62 Cathedral Park will comprise 140,000 sq ft of high-quality space located within a minute's drive of junction 62 of the A1(M).

Elsewhere, new schemes at Angel Park in Drum Industrial Estate, Birtley, and Follingsby Park, Gateshead, have been brought forward to try and satisfy the pent-up demand for good quality accommodation with good transport links. …

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