Merchant Place Developments appoints CBRE and HTA Real Estate

Work continues on the Hitachi Rail Europe site

Work continues on the Hitachi Rail Europe site

First published in Business News The Northern Echo: Photograph of the Author by

A DEVELOPER has appointed agency teams to boost a site housing an £82m train-building factory.

Merchant Place Developments, which owns Merchant Park, in Newton Aycliffe, County Durham, says CBRE and HTA Real Estate will work as joint agents on the 104-acre site.

The area will house Hitachi Rail Europe's train assembly plant, which will open in 2016, creating 730 jobs.

Bosses say CBRE and HTA will market the remaining 35 acres of development plots, with outline planning permission to provide up to 900,000sq ft of industrial, warehouse and office space.

Nick Atkinson, director of HTA Real Estate, in Newcastle, said: “The supply of existing large modern units is limited across the region but we now have the best market conditions for developing new properties since 2007.

“Merchant Place Developments has a great track record for delivery of high quality bespoke units to suit occupiers’ needs.”

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