Only three units remain at a Tyneside trade park after a firm of industrial property specialists has secured leases with two new tenants.
HTA Real Estate has completed the five and ten year deals which will see Jaspers Catering Services and mobility product provider CareCo move into recently refurbished units on Blaydon Trade Park. The scheme comprises of eighteen trade counter units located on Toll Bridge Road on the south side of the River Tyne.
Commenting on the success of the estate, Russell Taylor, director at HTA Real Estate said: “Blaydon Trade Park continues to be a popular choice for businesses of all sizes looking to secure a highly accessible location for their customers.
“The units provide flexible commercial accommodation for a variety of businesses, including Parts Alliance, M&S Supplies, A Wood Idea and Lord Tool Hire. As a result of our client’s investment in ongoing refurbishment works together with strong occupier demand, we have seen rental growth in recent years with asking rents rising to £7/sq.ft for the most prominent units.”
Director at CareCo, William Harrison said the company, which already has showrooms in Glasgow and Leeds, chose their new double unit at Blaydon Trade Park as its North East showroom due to its prominence from the A1 Western Bypass and proximity to Newcastle and Gateshead.
He explained: “The unit size is ideal for our needs, the prominent location, which will help serve our customers across the north by complementing our existing offering, is great, and there is ample parking for our customers.
“The team at HTA Real Estate has really helped the process run smoothly and we’re excited to be looking forward to opening in the first quarter of next year.”
Available through HTA Real Estate who are working alongside joint letting agent Knight Frank on behalf of investment management firm Kames Capital, units 6, 12 and 13 are currently available with rents starting from around £18,000 per year.