Gateshead industrial estate sold in £7.5m deal
A Gateshead industrial estate has been sold to UK land for £7.5m.
The Dukeries forms part of Team Valley Industrial Estate, which spans more than 7 million sq ft, with 50 acres in the development pipeline for further prime industrial stock.
The wider estate has direct access to the A1 providing rapid access to the national motorway network and Newcastle city centre and Newcastle International Airport to the north.
The Dukeries is a fully let four-unit estate and comprises two detached industrial units and two data centres.
Peter Atkinson, director in Savills Newcastle investment team, said: "It's great to deliver the first sale of this estate since it was developed by our clients over three decades ago.
“It's also very fitting that such an important piece of Team Valley was acquired by the freeholder, UK Land, which has exciting and ambitious plans to invest in and further drive the success of the wider Team Valley Estate."
Words: Alice Bird