A 36-acre development site has come to the market in a prime location at the junction of the A19 and Portrack Lane in Stockton-on-Tees. HTA Real Estate have been appointed to sell the site on behalf of clients of Claymore Investment Management Ltd.
Russell Taylor, director at HTA Real Estate said: “This is a strategically important site, which is situated in a highly visible position fronting onto the A19. Portrack Lane is a well-established commercial and industrial location, serving the immediate Teesside area and the wider North East region thanks to its close proximity to the A19, which is a major north-south route serving the area.”
He continued: “The site is 36 acres gross and is currently accessed via Cheltenham Road. It offers a rare opportunity to purchase a freehold serviced site in a prime location. It could be suitable for a variety of uses subject to planning and is currently earmarked for B1, B2 and B8 uses (office/industrial/warehouse & distribution). It should appeal to investors, developers and end users alike and we anticipate a high level of interest.”
The site is located adjacent to Portrack Interchange Business Park which is home to a number of established national retailers including B&Q, McDonald’s, Screwfix and Carpet Right. There is also a 24 Hour Asda Superstore, Wickes DIY and Dunelm Mill in close proximity.
If developed, the Portrack Lane site could accommodate over half a million sq ft of employment space, which could generate a significant number of jobs for the area.
Mr Taylor concluded: “Given the limited supply of new development land in this area and the ongoing shortage of big industrial warehouse premises, this site could potentially help to accommodate large job-creating companies who are looking for space in the region.”
HTA Real Estate, a specialist industrial and logistics property consultancy, secured deals on over 1.5m sqft of industrial space in the North East last year. The firm has recently completed a number of deals including the acquisition of a 105,000sqft manufacturing site for Godfrey Syrett in Durham, the sale of a 37,000sqft unit on Scotswood Road in Newcastle to JJ Foods and the sale of a 20,000sqft unit in Darlington on behalf of Subsea Innovation.