A COMMERCIAL property developer and investor is spending over £5million on a battery of improvement projects at a popular North East business park.

The aim of the investment from UK Land Estates into Boldon Business Park is to ensure the park ‘meets the needs of tomorrow’s businesses.’

The crux of the investment includes £4million to transform two vacant, 70,000sq ft and 50,000 sq ft units into modern industrial and distribution hubs.

Other projects include improving the environmental credentials of existing buildings and making the estates great places to work through landscaping and infrastructure improvements.

David Gibbs, commercial director at UK Land Estates, said: “Boldon Business Park has long been recognised as one of South Tyneside’s most sought-after business addresses, so we’re delighted that these improvement projects have all been approved and are now underway.

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“We made a commitment when we re-purchased the bulk of Boldon Business Park last year that we would invest heavily into futureproofing the estate and this is a great example of how we’re delivering on that promise.”

Cllr Margaret Meling, lead member for economic growth and transport at South Tyneside Council, said: “This is fantastic news for the Borough and will build on the recent investment into the park to provide further high-quality, sustainable business space.”

Naylors Gavin Black and Knight Frank are responsible for the majority of lettings at Boldon Business Park.

Keith Stewart, partner at Naylors Gavin Black, said: “Despite challenging economic conditions, there is still a healthy demand from occupiers across all sectors looking to secure high-quality units of 50,000sq ft and above.”

Mark Proudlock, partner at Knight Frank, said: “We are already experiencing strong interest from manufacturing and logistics companies seeking to take advantage of proximity to the A19, Port of Tyne and the thriving manufacturing sector which extends across South Tyneside and Sunderland.”