Member Article

Four deals worth £3m completed at Opus Park in Stockton

A property development and investment company has completed deals worth a total of £3 million at a North East industrial estate.

Opus North, who operate in the north of England from their base in Ilkley, West Yorkshire, has sold four units at their 360,000 sq ft Opus Park site in Stockton-on-Tees.

The park has been developed on the site of the old MFI factory site on Teesside and has been transformed into a modern, industrial warehouse complex with unit sizes up to 150,000 sq ft.

It is situated in the heart of Stockton’s Preston Farm Industrial Estate, adjacent to the A66.

A unit let to Unipart has been sold for £620k to Essel Property Ltd and TWS Property Ltd have bought a unit for £633k; two units have been sold for £1.6 million to an owner-occupier who did not want to be named; and occupier CFS Motoring Services has bought the other unit.

Opus North director Andrew Duncan said: “These four deals, three of which were completed this week, are a ringing endorsement of the quality of the development and the investment we have made in it. We have made a significant investment in Opus Park, creating 11 high-spec, high-quality, single-storey units for lease or sale – individually or in multiples to suit occupiers.

“This has transformed the old MFI factory into a modern industrial and warehousing complex for the 21st century.

Mr Duncan said: “Opus Park is superbly located in the Tees Valley with excellent access to the national motorway network from the A66. It is also close to Durham Tees Valley Airport and Teesport. It suits modern manufacturing and warehousing companies perfectly.”

Opus Park is one of the largest available manufacturing sites in the North East this year and Opus North is confident the site will continue to prove extremely popular.

Mr Duncan added: “Following these four deals, there will only be 93,000 sq ft left to lease or buy. There is already keen interest in this space.”

Jonathan Simpson, partner with marketing agency Sanderson Weatherall, commented: “The four recent sales cement further the sentiment that the North East industrial occupational and investment markets are continuing to pick up.

“Compared to this time last year, take-up has increased significantly and we are now in the final home straight as far as Opus Park goes. Given the interest we have in the remaining space, I am confident that it will be either let or sold over the course of the next few months,” added Mr Simpson.

This was posted in Bdaily's Members' News section by Graham Vincent .