Commercial real estate news releases from Avison Young
Quarterly and topical research insights to help your business gain competitive edge in commercial real estate.
Plans unveiled for four speculative units at Integra 61novembre 30, 2021
Masterplan for the 20-acre plot to help satisfy huge regional demand.
Real estate investment and development company Citrus Durham has announced that it is working up detailed plans to speculatively develop a four-unit industrial scheme totalling 337,225 sq ft at its £300m mixed-use Integra 61 development - the largest logistics and manufacturing opportunity in the North East in a generation.
Avison Young and Colliers International are the joint agents for the scheme.
The masterplan for the 20-acre plot incorporates four high quality units of 42,000 sq ft, 63,000 sq ft, 84,000 sq ft and 148,225 sq ft to satisfy huge regional demand. The new development will occupy the most prominent site at the centre of the 205-acre Integra 61 scheme, which has outline consent for over 3 million sq ft of employment space with the potential to create some 4,000 jobs and is already home to Amazon’s 2m sq ft Fulfilment Centre.
Detailed plans will be submitted to Durham County Council in January 2022 and the team is already talking to contractors about a start on site in April 2022 which would lead to the first buildings being available by December 2022.
Integra 61 offers occupiers design and build packages for units up to 500,000 sq ft as well as small units within [email protected] 61, where 23 flexible business units will be available to purchase or lease. The plans for the new development continue Citrus Durham’s objective to create an inclusive development that provides high quality accommodation for occupiers of all sizes.
David Cullingford, Project Lead for Integra 61 and Citrus Durham, said; “This further multi-million pound investment in the project demonstrates our continuing commitment to the region and our objective of creating the premier business location in County Durham. The shortages of grade A space are well documented, especially following the first half of the year where take-up increased by 56% on the year-on-year figures in the North East. These much-needed new units will help businesses to grow and generate further jobs for local people. We look forward to getting construction underway early in the new year.”
Robert Rae, Principal and Managing Director at Avison Young, said; “Integra 61 has the capacity to satisfy occupier requirements of all sizes and requirements and as such is a huge asset to the North East at a time when supply levels are so critically low. These new four units are sized to align with the huge demand that we are witnessing and will give occupiers the opportunity to be part of a superb mixed-use development in one of the most strategic locations in the North East.”
Located at J61 of the A1(M), Integra 61 is just 4 miles away from the City of Durham and will also include circa 300 new homes, 70-bed hotel, family pub/restaurant, nursery, drive-thrus and a number of trade counter/roadside units all adding to the diverse offering.