UK Land Estates acquires 275,000 sq ft at Team Valley
The purchase of the 22 units brings the company’s total footprint in the North East to more than 1.9 sq ft, with around £80m invested in the region this year.
Back in March, the commercial property developer and investor announced that it planned to invest around £35m in the region over the next two years, however this latest purchase sees that figure more than doubled within eight months.
Located in Gateshead, UK Land owns the wider freehold of Team Valley Trading Estate, speeding up the purchasing time.
The units are multi-let, and include several units at Princes Park and The Dukeries near Retail World and 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.”
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.”
