Wilton Developments has purchased the 33-acre Dynamo Park site on Cheltenham Road in Stockton-On-Tees for an undisclosed sum.
The developer behind the successful 70-acre Turbine Business Park in Sunderland intends to capitalise on its extensive experience in the region to deliver another high quality commercial scheme, as part of its commitment to logistics and industrial space in the Northern Power House.
The scheme has the capability to deliver circa 600,000 sq. ft. of industrial, storage and warehouse space on a prime A19 frontage, adjacent to the junction for the popular retail and trade location at Portrack Lane.
The site benefits from an outline planning permission for almost 400,000 sq. ft. of commercial space and reserved matters (detailed) permission for circa 220,000 sq. ft. Together this could foster more than 1,070 jobs on the site, with many more in associated supply chains linked to the scheme.
Jason Stowe, Managing Director of Wilton Developments, said: “The scheme will deliver high quality employment space, job opportunities, inward investment and economic growth in the area, capitalising on the lack of available opportunities in the wider north east for businesses wanting to upgrade their facilities to new levels of design and ESG credentials.
“The acquisition provides a great opportunity to deliver a variety of industrial, storage and warehouse space adjacent to the A19.”
Wilton Developments is active across the north of England, where the company has delivered prime new build and refurbished commercial space, including the recently completed Latitude logistics development on the M62 near Leeds and Enterprise Park in Barnsley, both for CBRE Investment Managers.
The company is also behind the recently completed four unit scheme at Turbine Business Park for Block Industrial and the forthcoming Leeds 500, which is the largest single unit distribution scheme in the city, with reserved matters consent providing approximately 500,000 sq. ft. of BREEAM Excellent logistics/industrial space alongside the M1 at Junction 47.
The company also secured the largest single reserved matters planning permission in the UK for 1.15 million sq. ft. of industrial space at Doncaster North, as part of a 2.26 million sq ft of reserved matters consents in the first phase. These consents are part of Wilton’s wider 3.5 million sq ft industrial and logistics development close to the M62/M18 interchange which is set to create around 8,500 jobs for the region.
More information will be available at the UKREiiF in Leeds this May, where Wilton Developments will be exhibiting and speaking.
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