Member Article

Washington's Teal Farm Park business park opens promising 124 jobs

A major new business space development built using European and local regeneration funding has opened in Washington and promises to create 124 new jobs.

Teal farm Park Phase II, built by Hellens Investment (Washington) LLP, attracted over £500k from ERDF Competitiveness Programme 2007-2013 and match funding from the North East LEP’s Investment Fund, which includes the Growing Places Fund.

The park comprises four units built to BREEAM standards, designed for manufacturing or distribution enterprises and for start ups.

Cllr Neil Foster, Deputy Chair of the North East ERDF Local Management Committee, which engages key partners in the overseeing of the strategic delivery of the Programme in the North East said:“Following the approval of ERDF investment, this development in Washington will stimulate business growth through the construction of a number of high quality work units, creating jobs, ensuring inward investment and addressing a shortage of such workspaces.

“These are essential criteria to support local growth and rebalance the economy and it is a pleasure to be here today to officially mark the opening of the development.”

Councillor Paul Watson, North East LEP board member and Leader of Sunderland City Council said: “It’s great news to celebrate the official launch of Teal Farm Park with completion of both phases. The business park is a strong example of the sort of development the LEP’s North East Investment Fund, which includes Growing Places funding, was set up to support.

“We have watched it move towards completion following our funding, which is great news for businesses and the region. The first phase has already had a positive impact on the local economy, and the completed development has the size, location and quality to thrive in the future.”

Gavin Cordwell-Smith, chief executive of the Hellens Group, the Washington based property developer and land regeneration specialist said: “We are delighted to see these units officially opened.

“We are very grateful to the Department for Communities and Local Government for providing grants from the European Regional Development Fund.

“This funding, along with loans from the North East Local Enterprise Partnerships Investment Fund, has allowed the development to proceed. It will bring both significant economic and employment benefits to the North East.”

This was posted in Bdaily's Members' News section by Tom Keighley .