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Location, Location and great deals

In a regional commercial property market where there is a wealth of stock ready to open its doors to new tenants, location really is key, says commercial property experts Sanderson Weatherall.
 
The North East is blessed (most of the time) by the two arterial veins that run through our region, the A1 and A19.
When decisions are being made about a possible move or investment in commercial property, cost at the moment is very important but not the only obvious factor. Often it’s location that provides a sustainable move factor for a business’s long term future.
 
Property that is visible, accessible and convenient for its business function, whether in the middle of a city centre, adjacent to a motorway or hidden in a rural setting, can save thousands in overheads. And, where some locations can fall in and out of fashion, schemes near to the A1 and A19 seem to offer timeless popularity.
 
Earlier this year, we launched Gateway West onto the market, offering a total of 230,000 sq ft of high specification office and industrial accommodation. The scheme provides a rare chance for firms to secure a base beside the popular A1 corridor with offices available 3,500 sq ft and industrial /warehouse units from 5,500 sq ft.
 
Developers, the Caddick Group and funding partners, CBRE Investors know a prime site when they see it and quickly recognised the value of the Newburn Riverside thanks in-part to its geography.  Of course, the scheme’s position has been matched by inspiring office spaces, large yard spaces for its industrial units and a BREEAM Excellent Rating owing to a number of sustainable features - all offering a real selling point to firms locally and further afield.
 
Our region’s excellent connectivity is a definite pull factor for businesses looking to re-house themselves in the North East.
In County Durham, Mandale Park on Belmont Industrial Estate is adjacent to Junction 62 of the A1. Its excellent road links have clearly been a strong deciding factor for its new residents in recent months. This scheme has bucked the national trend as Phase Two of the development has been commissioned thanks to Phase One now completely let.  
 
On the A19, Spectrum Business Park has high specification offices immediately available from 5,800 sq ft to 70,000 sq ft with stunning rent free incentives available. Talk to Business and Enterprise North East about their experience and the benefits of Spectrum which they have made their home.
 
Moving further south, we have seen movement through a buoyant Tees Valley warehouse market down the A19, despite the tough climate this year. Thanks to competitive rates and good locations, warehousing has probably been the best performing sector in the region in the past twelve months. A highlight deal for 2009 so far, came as PD Logistics signed a lease on 125,000 sq ft Stephen House, a factory-turned-warehouse situated close to the vital road link.
 
On the southern edges of the region it’s been the same story, with 20,000 sq ft of space taken and only one unit remaining at ‘Target@Colburn’ in Catterick, a tranquil but accessible development with easy access onto the A1.
 
For retailers, visibility from traffic-heavy roads can make or break a move. GO Outdoors’ move into Portrack Lane in a transaction brokered by Sanderson Weatherall offered a site easily viewed from the A19 Tees Flyover.  Since moving into their 35,000 sq ft premises – it has quickly established itself as a popular addition to the home improvement warehouses that dominate the line-up in the out-of-town location on Teesside.
 
Without doubt, the economic situation this year has changed a lot of the rules in commercial property. That said, with deals done and new tenants’ firmly ensconced, commercial property along the A1 and the A19 has continued to move in the right direction. Provided that we are now starting to come through the toughest financial situation in generations, eagle-eyed businesses will continue to find sites alongside these gateways to our region, a great place to grow your business.
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