Premcor completes and sells North Durham Retail Park

Privately-owned Co Durham based property development company, Premcor Estates has announced the completion of the North Durham Retail Park at Pity Me, Durham, attracting some major names.

Situated adjacent to Durham’s largest out of town retail destination, the Arnison Centre, the new 45,000 sq ft modern retail park has become home to leading retailers such as Home Bargains, Aldi, Iceland’s ‘The food WAREHOUSE’ concept and a Starbucks drive-thru.

Altogether, 95 new full-time jobs have been created by this development.

The five-acre site, off Old Pit Lane, Pity Me – formerly known as Elddis Business Park – was acquired by Premcor director, Simon Hawkins, from Elddis Transport when it became surplus to requirements.

At the time it was being used as an ancillary depot with five multi-let buildings, all of which were demolished to make way for the development.

Following completion, Premcor sold the investment to an overseas fund in a private multi-million pound deal.

Premcor submitted plans to Durham County Council in 2019 for the redevelopment of the site, supported by planning and development consultancy, Lichfields, and master planners, The Harris Partnership. Once given the green light, construction began in July 2021 with GMI Construction.

Based at the Aycliffe Business Park, Premcor works across all UK-based commercial and residential real estate markets. Its two directors, Simon Hawkins and Rob Lane, have more than 40 years of combined experience gained in leading development and investment firms. Hawkins, who lives in Co Durham, specialises in industrial and occupier-led retail and leisure developments and was instrumental in closing the initial deal with Elddis.