Newspaper article The Journal (Newcastle, England)

Builders Are First to Buy Unit on Estate

Newspaper article The Journal (Newcastle, England)

Builders Are First to Buy Unit on Estate

Article excerpt

Byline: Graeme King

THE first sale has been completed on the new Opus Park development on Teesside which has benefited from a pounds 2.3m refurbishment since the closure of the former MFI factory.

Unit 1A with 30,000 sq ft, has already been sold to Hull-based developers Osprey for pounds 1.25m. The tenants are MKM Builders. Two further buildings are under offer with strong interest being shown in the remainder of the site.

Yorkshire-based developer Opus Land has turned the 360,000 sq ft ex-MFI site into a modern industrial and warehouse complex with unit sizes ranging from 9,300 sq ft to 150,000 sq ft.

The development is situated in the heart of Stockton's Preston Farm Industrial Estate and the agents say it is one of the largest available manufacturing sites in the North East this year.

Opus Land, one of the fastest-growing development and investment companies in the country, bought the 16.5-acre site in September 2006.

Andrew Duncan, director of Opus Land, said: "We are delighted that work has now been completed and the swift sale of Unit 1A is a ringing endorsement of the quality of the development. …

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