Square One Law acts for Marick Real Estate on development agreement that will create 100 new jobs
Commercial law firm Square One Law has acted for London based property group Marick Real Estate on a development agreement with Lear Corporation as part of plans to double the size of its Sunderland factory at Rainton Bridge Industrial Estate.
The site, which first opened in 2011, was Lear’s first UK foam manufacturing facility for car seats. The development agreement with Marick will allow Lear to extend its existing premises by 3,500sqm, double its capacity and provide more than 100 new jobs in Weardale.
The new facility will be ready by mid 2015 and will provide seats for the Nissan plant in Sunderland, as well as servicing new contracts that Lear has secured from Jaguar Land Rover.
Sunderland City Council leader, Paul Watson said: “This extension is fantastic news for Lear, the region and employment. We have a vibrant automotive supply industry centred on Sunderland and this decision to extend is proof that the sector is going from strength to strength.”
Marick’s CEO, Patrick Going, said “We’re seeing increasing demand from the industrial sector across the UK and it’s great to see the UK automotive sector bouncing back from the recession. In these times of tight deadlines and rapid growth, it is great to have a strong professional team to deliver and Square One Law has excelled again.”
Head of Square One Law’s property team, Barney Frith said: “Whilst personally I have a longstanding relationship with Patrick at Marick Real Estate, this is the first time that I have acted for them on behalf of Square One Law. I was delighted to be approached to work with the team again. The Sunderland site has great potential and I look forward to seeing the positive growth that the development agreement will bring.”