January 7, 2020 @ 14:48 by Richard Dawson
Developers have announced plans for a new industrial scheme to utilize the last parcel of land on Drum Industrial Estate in Chester le Street.
Argon Properties and Buccleuch Properties have joined forces to deliver two new industrial properties at Panther Court.
The developers have appointed Naylors Gavin Black LLP and Cushman & Wakefield as joint agents for the marketing of what will be a 45,000 sq ft and an 80,000 sq ft unit.
The construction of these large, high-quality units has been brought about to help satisfy demand in the area and will transport the vacant development site close to the A1.
Richard Wilks, managing director of Argon Properties, said: “There is currently an undersupply of good quality modern industrial space in the region, particularly units over 25,000 sq.ft.
“Given its position only one mile from Junction 63 of the A1(M), we are confident Panther Court will appeal to a wide range of businesses.
“At this stage of the development process we can still offer bespoke solutions to accommodate occupiers’ individual requirements and we are very pleased to begin the marketing of the scheme with the support of Naylors Gavin Black, Cushman & Wakefield and the team at Business Durham.”
The news comes as Argon and Buccleuch are working together on Velocity 194, a 10-acre £17 million industrial development in Washington.
Chris Donabie, partner at Naylors Gavin Black, said: “Major occupiers such as Komatsu, Parcelforce, Coveris and the Co-op have all established their own industrial facilities at Drum Industrial Estate so it is clear that there are commercial advantages to this location.
“We can deliver new premises before the end of 2020 which means we can react quickly to help accommodate expanding or new businesses who may have specific requirements.”