UK Land Estates has acquired over 275,000 sq ft of industrial units at Team Valley Trading Estate, bringing its total investment in the North East to over £80m for 2025.
The acquisition of the 22 multi-let units brings the company’s total occupational properties at the estate to over 1,900,000 sq ft.
The business also owns the wider freehold of Team Valley, allowing it to swiftly make property acquisitions and develop new sites.
Several units at Princes Park were included in the deal, as were units at The Dukeries near Retail World. The buildings are home to household names such as Virgin Media, Karcher and Autoglass.
David Gibbs, property director of UK Land Estates, said: “Our strategy is to continue developing on our core estates and providing modern facilities for a range of businesses, whilst also acquiring long leasehold properties on our freehold, which provide day-one income in good quality buildings.
“Over the past few years, we have invested significantly in expanding our portfolio through the re-acquisition of large swathes of New York Industrial Estate, Nelson Park and Boldon Industrial Estate and this deal further builds on that.
“Alongside our ongoing new-build and refurbishment projects across the region, it will significantly bolster our portfolio and ensure we are able to continue providing the best possible service to our customers long into the future.”
The commercial property developer and investor announced in March that it planned to invest over £35million in the region over the next two years. This latest investment however has seen UK Land Estates invest more than double that proposed figure inside eight months, and David believes there could still be more to follow.
He added: “While there remains a fair amount of uncertainty in the market, one thing we do know for certain, having witnessed it first-hand, is that the North East remains a destination of choice for businesses from across the globe seeking to grow.
“During 2025, we have continued to develop speculatively where others have only looked to do so against pre-lettings. We are nearing completion of a large speculative unit on Team Valley’s Centralway, which is a modern high-bay unit of 65,000 sq ft and have advanced interest in this ahead of practical completion. This underpins our approach of drip-feeding quality stock into the market, whilst investing in our core assets through refurbishment and acquisition.
“The business is also nearing the point of starting works on Kingsway North, which will provide yet more quality space into the market, as well as two pre-lets to firms which are household names.
“Looking ahead, our ambition is to build on this by continuing to invest in the North East, so should the relevant sites or properties present themselves, then there could well be further announcements to follow.”
