Member Article

Teesside property entrepreneur acquires Middlesbrough industrial estate

Teesside property developer Geoff Hogg has acquired Brighouse Business Village in Middlesbrough for a six-figure sum from its former Scottish fund manager owners.

Through his firm, JR Property Developments, Geoff spotted the opportunity to branch into the industrial estate market having seen Brighouse vacancies rise over recent years.

The entrepreneur now plans build the estate back into a flourishing commercial hub - and has already filled all but three units in the space of two weeks.

Geoff told Bdaily: “The former owners of Brighouse were managing it from afar and it wasn’t really working. It had high vacancy rates and there shouldn’t be in the industrial sector, in Middlesbrough, because it’s very strong at the moment.

“I wanted to come in as a local investor and make sure the estate was modernised and run properly. When we were handed the keys two weeks ago there were 10 empty units, and now we’ve three remaining.”

The 50,000 sq ft, 35-unit estate located on Middlesbrough’s Riverside Park is already home to a broad range of business from offshore engineers through to technology companies and even a model railway firm.

Until now, Geoff’s portfolio has concentrated on commercial retail and residential sites - and more recently includes his TFM Soundworks venture on the former Riley’s Snooker Hall site in Middlesbrough.

Geoff added: “The estate has already got some really established business who have flourished here. Now I want to make sure it appeals to start-up firms who need a quick turnaround.

“My aim is cut out the red tape. We want people to be able to come and view a property, sign the lease and move in the next day. We have a form of lease, approved by the law society, which removes the need for a lengthy legal process.”

Maintenance at the estate will be carried out by Geoff’s existing staff at JR Property Developments.

Geoff added: “This is my first stint in industrial premises, but our plan is now to acquire other similar sites and develop JR’s expertise in the area.”

Those interested in finding out more about the park should contact Geoff on 07813 777224.

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