A 700 acre Teesside scheme is set to be developed after North East businessman Sir John Hall this week dropped his objections and sold his site to rivals.
On Wednesday, the 72-year old former Newcastle United chairman agreed to sell his 500-acre Wynyard Hall site, where for several years he has been proposing a business park.
Just last month, Sir John Hall threatened a judicial review of a decision by Stockton-on Tees council to allow a change of use on the adjoining 207-acre former Samsung site from electronics only to mixed-use.
Now his company Cameron Hall and its joint venture partner Industrial Securities have accepted a £34m bid for their site, from Helios Wynyard a consortium of Helios Properties, Kilmartin and Samsung site owner Wynyard.
The two sites will be joined under the name Wynyard Park.
Masterplanners will be appointed to draw up plans for a major mixed-use development at the site between Billingham and Hartlepool, in rural County Durham.
On Thursday, Helios’s joint venture with Slough Estates gained permission for two distribution sheds totalling 700,000 sq ft on the old Samsung site.
The site was originally owned by Sir John, the man behind Gateshead’s MetroCentre.
He sold the 207-acre site to Samsung in 1995 for a reported £5,000 per acre . When Samsung closed down, the site was sold to Chris Musgrave’s Wynyard.
References: EGi News 26/08/05
