An industrial site on the North Bank of the River Tyne has been acquired by a steel construction firm.
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Avison Young – acting on behalf of Hadrian Industrial Holdings Ltd – has secured the sale of the Hadrian Yard in Wallsend to Smulders Group NV for an undisclosed sum.
Smulders Group specialises in the engineering, construction, supply and assembly of steel constructions, and has bases in Belgium, the Netherlands and Poland as well as the UK.
Comprising 461,128 sq ft of industrial, warehouse and office space, the 75-acre site is currently used by Smulders Group’s subsidiary company Smulders Projects UK for the manufacture of jacket foundations for offshore wind turbines.
Simon Beanland at Avison Young commented: “I am pleased to say after an initial lengthy marketing campaign this unique site attracted a good level of interest from 3 parties focusing on the growing off-shore and alternative energy sector.
“The government’s recent announcement on the UK’s Green energy plan and talk of a potential free port status in the region is thought to have focused buyer interest from both end users and investors.”
Danny Cramman at Avison Young added, “The site is exceptionally well-placed to benefit from developments in the North Sea and within easy reach of key offshore energy locations such as Dogger Bank and Hornsea.”
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