An iconic industrial tool manufacturer has agreed to take 220,000 sq ft of space at the DurhamGate development.
HTA Real Estate has secured a deal with Stanley Black & Decker on behalf of Arlington Real Estate. The manufacturer will move into the Meadowfield building to expand its North East operations.
Allan Cook, managing director of Arlington, said: “Stanley Black & Decker is an iconic global brand and has been an important employer in the area since the 1960s.
“It is a great company to have as an occupier so we are very pleased they have chosen DurhamGate to make this latest investment. By taking the entire Meadowfield building the company has signalled its ongoing commitment to the area.”
Arlington, which has owned and managed the Meadowfield building since 2005, managed its development schedule at DurhamGate to accommodate Stanley Black & Decker’s changing business plans.
Councillor Carl Marshall, Durham County Council’s cabinet member for economic regeneration, added: “This is great news for Spennymoor and the wider county.
“The strong partnerships we have with developers and businesses, coupled with our wide and varied portfolio of sites, have created an environment where employers are confident to invest and to commit for the long-term.
“We are very pleased that Stanley Black & Decker has chosen to demonstrate their commitment to our county’s future.”
Nick Atkinson, director at HTA Real Estate, said: “This is a significant deal for the North East industrial property market.
“With the current limited availability of large industrial spaces in the region, this building attracted a steady stream of interest from a number of international manufacturing companies.”
