Wilton Developments has reached practical completion of a 168,000 sq ft four-unit scheme at Turbine Business Park in Sunderland.
Pursuant to a development agreement, the scheme is owned by Block Industrial Limited – a real estate joint venture vehicle managed by Copley Point Capital.
The four units offer 20,000 sq ft, 29,000 sq ft, 51,000 sq ft and 68,000 sq ft and have been constructed to a BREEAM Very Good standard with an EPC A rating. The two smallest units were let prior to completion to Decor Cladding Direct and Rheal Superfoods.
Jason Stowe, managing director at Wilton, said: “We are delighted to complete these four high quality units on behalf of Block Industrial and we look forward to seeing the lettings progress to join other successful businesses on the scheme such as Vantec, Brenntag and the popular Washington Business Centre. We have a planning application submitted for the final plots of the scheme and we look forward to bringing these buildings to the market in the future.”
Nimit Oberoi, director at Copley Point, said: “We are pleased to see the strong tenant demand for our units and address the supply and demand imbalance in the region. It has been a great pleasure to work with Wilton on this scheme and we look forward to doing more deals together.”
Alex Whiting, senior director at CBRE, whose Leeds team acted on Wilton’s behalf on the sale, with Avison Young representing Block Industrial, added: “Wilton have an excellent track record for delivering quality units across the north of England and Turbine is set to be another successful scheme.”
Avison Young and HTA Real Estate are marketing the remaining two buildings.
