Wynyard Park secures letting to US chemical company

May 13, 2011

Wynyard Park has secured one of the North East’s largest lettings since the downturn in a deal with US chemical giant Huntsman.

Huntsman plans to establish its European headquarters at the 700-acre mixed use business park on Teesside and has agreed to take a total of 85,000 sq ft of space. It will relocate 350 staff from other sites across the region into the 55,000 sq ft Lion Court office building and 30,000 sq ft of laboratory space at Tees Valley 120.

Huntsman has signed a 20 year on both properties and will pay a rent of £15 per sq ft for the offices and £4 per sq ft for the lab space.

“This is a tremendous endorsement for the commercial element of Wynard Park,” says Trevor Cartner of Helios Properties, who with JC Musgrave are the park’s owners.

“We have over 1.2 million sq ft of business space already developed on the site and we are now approaching 100% occupancy. We are now looking forward to developing the next phases which are with the planning authorities now”

Huntsman pigments president, Simon Turner said: “Wynyard Business Park provides the level of services we need combined with efficient, modern, purpose built facilities right on our doorstep”

Wynyard Park was recently boosted by news from Hartlepool and Stockton NHS Trust that it had secured funding for a new £290m 1 million sq ft hospital to be built on the site. This will be accompanied by an associated training and development centre of  200,000 sq ft  to be developed by Wynyard Park in Joint Venture

Wynyard Park Limited also recently submitted a planning application for 220 homes on the western part of the park.

Knight Frank and Dodds Brown acted for Wynyard and GVA advised Huntsman.

Ends

 

Latest News

Melburg appoints Andrew Burns as Head of Asset Management as transactions hit £1Bn

May 25, 2022 - 08:06

Melburg Capital Ltd [Melburg] – the privately owned real estate investment and development company announces the appointment of Andrew Burns as head of Asset management following £1Bn transaction l[...]

+ Read More

REDEVCO LETS FINAL UNIT IN SHOREDITCH

May 20, 2022 - 09:57

Redevco, one of the largest privately-owned real estate investment managers in Europe, has completed the leasing of its Shoreditch holdings after securing a lease with US lifestyle brand Free People. [...]

+ Read More

Luxury Retail brands Alice + Olivia and Veronica Beard set to open London flagships on Bruton Street

May 17, 2022 - 09:34

Astrea has secured two new retail brands on Mayfair’s Bruton Street. Alice + Olivia, the New York City based contemporary clothing brand, are due to open at 25 Bruton Street. It will be the first Lo[...]

+ Read More

CONTACT

CALL US

+44 (0)20 7647 4420

ADDRESS

Wren House, Garden Close Lane, Newbury RG14 6PR