Helios Properties has secured a site for its fourth giant northern distribution hub.
It plans a 1m sq ft scheme on 154 acres at junction 59 of the A1, near Darlington, after taking a five-year option on the site from a local landowner.
The park will be known as Newton Park and Helios is in talks with a logistics operator to either buy the completed scheme for £50m or rent space at around £4.50 per sq ft.
Buildings will range from 100,000 sq ft up to 500,000 sq ft, with interested parties likely to include Exel, Hays, Tibbett & Britten and Red Star.
Trevor Cartner, director at Helios, said: “There is a distinct need for a high-quality distribution park to serve this economically vital region.”
Helios is on the lookout for four or five similar-sized sites.
King Sturge and Storey Sons & Parker are letting agents.
Architect is Burks Green.
References: EGi News 02/06/03
