Merchant Park phase one tops out
Built by Hall Construction Services, the 52,500 sq ft development at Aycliffe Business Park in County Durham has reached the milestone, with completion due in September.
This is the first of three phases being built in Newton Aycliffe, with phase two and three covering 89,000 sq ft and 126,500 sq ft, respectively.
Located on Millenium Way, the 17-acre development was funded by FW Capital, who provided a seven-figure sum from the North East Commercial Property Investment Fund, which is managed by itself and the North East Combined Authority.
NECA has also bridged the financial viability gap for the first phase of the development, and the infrastructure costs for the following two phases.
Adrian Goodall, director at Merchant Park Developments, said: “I’ve been impressed by the progress on site by our contractors Hall Construction.
“After months of planning and preparation work it’s fantastic to hit this milestone which brings us closer to supporting North East businesses looking to scale up and locate to new premises.”
Chris Dixon, senior investment executive at FW Capital said: “It’s great to be involved with the topping-out ceremony and see first-hand how investment from the CPIF is helping meet the demand for commercial property space in the North East.
“We share Merchant Park’s vision to create quality commercial warehouse and office space, regenerating a previous barren land.”
