Member Article

£1.9 million hub for SMEs to be built on former Swan Hunter shipyard site

Work is about to start on a brand new hub for small businesses at a prime location on the banks of the Tyne.

The £1.9 million project at Swans, the former Swan Hunter shipyard site in Wallsend, will transform part of an existing office block to create new and flexible business accommodation, including incubation and development space.

The hub’s prestigious position within the River Tyne North Bank Enterprise Zone (EZ) will make the development ideal for small and medium-sized companies connected to the advanced engineering, sub-sea, marine, oil, gas or offshore renewable energy sectors.

It is expected that the combination of a unique location and flexible facilities will attract significant interest from businesses looking to link with larger firms and employers across the wider site.

The work will convert two floors of a five storey block owned by North Tyneside Council, to deliver a total of 16 units for rent, ranging from 105 square metres to 283 square metres in size. The refurbishment work is expected to be complete by late spring 2015.

The varying unit dimensions will allow businesses to remain within the hub as they grow, with the aim of developing and retaining a strong cluster of sector knowledge and expertise, based at Swans.

Other facilities on site will include a contemporary, high quality reception area, meeting rooms and kitchen facilities.

Some other parts of the building, which are already occupied by Swan Hunter North East Limited for marine design, Graspan Frankton for training in the marine sector and Shoney Wind - will continue to be used by them.

Kier Property will carry out the refurbishment work on behalf of North Tyneside Council and, in keeping with Swans’ site designation as a Low Carbon Enterprise Zone, the work will be completed to improve energy efficiency and environmental sustainability.

North Tyneside Council will continue to own and manage the building, to ensure the success of the site as a prime business cluster location.

The new hub is part of a raft of significant developments which are already underway or about to start at Swans.

The 34-acre riverside site is set to benefit from a number of improvements over the coming months, including new internal link roads, a new bridge on Benton Way for heavy goods vehicles, dredging and quay repairs.

The enhancements are part of North Tyneside Council’s ongoing work to transform the world-famous former shipyard into a high-quality riverside site for firms that are linked to advanced engineering, marine, renewable and sub-sea sectors.

As an Enterprise Zone, Swans offers a number of benefits for companies locating to the site before March 2018 including up to five years’ business rates relief and a simplified planning scheme.

Elected Mayor for North Tyneside, Norma Redfearn said: “North Tyneside Council is working hard with its partners to ensure the future success of the prestigious Swans site as a prime business cluster location.

“This latest development will further enhance what’s on offer at Swans for small and medium-sized businesses, particularly those involved in the renewable energy and marine sectors, and really add value to what North Tyneside can offer companies wishing to locate to the site.

“We expect that the hub will attract significant interest from firms looking for that unique combination of prime location and flexible facilities.”

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