Member Article

Redcar Wilton Centre sees lettings figures double

The region’s most established business and science park has seen its lettings figures double in the past twelve months.

The total amount of space let to new and existing tenants at the Wilton Centre in 2014, at almost 59,000 ft, is more than 50% higher than the previous year, when 23,000 sq ft was signed up.

Total occupancy is now running at 70% at the 75 acre site located between Middlesbrough and Redcar, up from 57% in 2011.

The race to take up space is set against a background of investment in the facilities for businesses based at the Centre.

In the past twelve months alone the Wilton Centre has revamped and refurbished its Lakeside restaurant and coffee shop, launched a state-of-the art gym for tenant employees and created a suite of high quality conference and meeting rooms.

Site director Steve Duffield said that the improvements have added significantly to the attraction of the Centre as a location for business office space as well as its reputation as a world-class science park.

“We took a long term view when the economy was less robust, that it was worthwhile investing in the premises to sow the seeds for future growth in lettings when things started to improve again.

“Last year’s figures show that this was a prudent approach to take. The buzz is certainly back at the Wilton Centre,” Steve commented.

In the past few months the Wilton Centre has signed leases with a number of new businesses and had significant existing tenants renewing their presence.

In September 2014 life sciences company Absolute Antibody, which is developing next generation engineered antibodies, relocated its laboratory and office operations from Oxfordshire to the Centre and expanded its business at the same time.

Earlier in the year Whiterock Executive Limited, a fast-growing national executive recruitment agency headquartered in Leeds, opened a North East office that had almost doubled in size to employ 5 staff by the end of 2014.

And in December Manchester-based process engineering specialist Haden Freeman also launched a regional office employing 7 at the Centre, which it plans to treble in size within 7 years.

“Signings were very healthy last year,” added Steve. “And with a number of new businesses having taken up new space already this year, and a big relocation on the horizon in the next few weeks, we are cautiously optimistic things will be even better in 2015.”

Wilton Centre’s commercial property agent, Stephen Brown Partner at Dodds Brown, commented: “The demand for the Centre reflects both the quality of the office accommodation and the excellent facilities and environment at the Wilton Centre.

“With car parking being abundantly available and the new top quality facilities, the Centre is now attracting interest from the wider business community.

“The Wilton Centre is a location for all types of offices occupier seeking quality accommodation with state of the art facilities”

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