OWNERS of a business park have hailed their £2m investment after the outlay lured companies to the site.

UK Land Estates says its drive to improve the Tyne Tunnel Trading Estate, in North Tyneside, is paying off.

Refurbishment started last year and bosses say four businesses have already switched to the park, with a fifth due to move in in August, when a further half a dozen units will be completed.

The latest tenant to move in is Nitelites, an audio and lighting company, which has worked at the Great North Run, the Sunderland International Air Show and the BBC Proms.

Owner, Jamie Moore, said: “Since we started in 1983 we have continued to grow.

“Moving in to an 18,500sq ft unit on the Tyne Tunnel estate will allow us to continue that expansion and we hope to bring more staff on board as well as starting an apprenticeship programme.

“The location is great for us, we’ve now got the room to do so much more and the opening of the second Tyne Tunnel has improved accessibility to the estate.”

The biggest unit to be refurbished is nearly 23,500 sq ft and has been taken on by D-Line Europe, a company known for finding innovative ways to hide cables and tidy wires.

It moved from Seaton Delaval, Northumberland, last month.

Founder, Paul Ruddick, said: “We needed to evolve our working environment for staff and to acquire additional capacity for expected sales growth in coming years.

“UK Land Estates were really helpful in accommodating our relocation; we are settled in now and enjoying the benefits of having a fantastic facility.”

The trading estate opened in 1968 and was bought in 1999 by UK Land Estates, who established a trade park in 2004.

David Gibbs, UK Land Estate’s lettings surveyor, added: “It’s pleasing our £2m investment is bringing in new lettings.

“We are attracting some great companies by refurbishing units that have been vacant for as long as five years.”