Square One Law client Highbridge unveils new £100m industrial site, Indigo Park
The commercial property team at Square One Law are acting for Highbridge Properties – owners of the Cobalt business park – on the creation of a new industrial site which has the capacity to generate more than 1,000 jobs.
Indigo Park which was created in collaboration with North Tyneside Council is an 82 acre strategic employment site capable of accommodating in excess of 1.3 million sq ft of new manufacturing and distribution space.
The site, located on Sandy Lane, close to the A1 at Gosforth Park, is being developed by Highbridge to offer potential tenants large bespoke and purpose-built premises to satisfy their individual needs.
Adrian Hill, director of Highbridge, said: “We are thrilled to have secured this outstanding development opportunity particularly as the demand for well-located large-scale manufacturing and distribution units is increasing steadily and the supply of available stock to meet that demand is already at a very low level and reducing fast.
Square One Law commercial property partner Barney Frith said: “we are really pleased to have played a part in the creation of Indigo Park and to look forward to working with Highbridge on the ongoing development of this exciting project.”
Adrian continued: “I have known Barney for well over 20 years and I am delighted that we are currently working together on a number of projects. In addition to our most recent success in securing the Option Agreement at Indigo Park (with three separate land owners) Barney and I are working on major development projects at Ansty Park (a 1.5 million sq ft in the Midlands), a number of design and build opportunities and a significant number of option/joint venture agreements around the country. I have always found Barney to be responsive, commercially aware and, of course, a first class property lawyer. Furthermore, and perhaps most importantly Barney is always a pleasure to deal with.”
Despite being London-based Highbridge has a strong presence in the region with schemes including Newcastle Business Park, industrial projects at Peterlee and Sunderland and Cobalt which, with more than 12,000 employees, a four-star hotel, nursery, conferencing facilities and a Tesco and Greggs extends to in excess of 2 million sq ft.