Member Article

Bradley Hall oversees sale of Newburn Industrial Estate

Newburn Industrial Estate, near Newcastle, has been sold showing further optimism in the industrial market.

Chartered surveyor and property agent Bradley Hall oversaw the sale of a 6.7 acre site on the Newburn Industrial Estate, which came to the market in March.

Previously used as a major vehicle dismantling yard, the plot comprises a 44,593 sq ft warehouse, office and storage facilities and extensive yard.

It is situated in a prominent position within the well-known estate, which lies less than one mile away from the A1.

The site was previously owned by Norman Marshall Group, who are worldwide leading vehicle recovery and repatriation specialists, and have been located at the premises for the past 25 years.

Tim Aisbitt, senior surveyor at Bradley Hall, said: “The sale of this particular site is not only a success for Bradley Hall and a great investment for the buyer; it is also a signpost that the commercial property market in the North East is steadily improving with activity dramatically increasing.”

“The Newburn site was one of a series of significant instructions for us and reaffirms our feeling that the industrial property market recovery has gained momentum. We are seeing sustained growth as investor confidence comes back to the market and transaction rates pick up. In addition to this, numerous manufacturing companies and traditional heavy industrial firms are showing improved confidence in demand allowing them to carryout expansion plans.”

Recent data would appear to back up his claims. The Royal Institution of Chartered Surveyors’ latest commercial property survey highlights a strong rise in demand for industrial premises across the UK. Occupier demand grew for the fifth successive quarter, the study said, while the number of new commercial property developments rose for the second quarter in a row.

Tim said: “This positive national picture is being replicated in the North East. We have gained a host of new clients, particularly in the industrial sector, and we expect to see further growth in the market throughout 2015.”

This was posted in Bdaily's Members' News section by Ellen Forster .