Avison Young secure sale of Hadrian Yard, North Tyneside23 Jan 2021
Avison Young acting on behalf of Hadrian Industrial Holdings Ltd has secured the sale of the Hadrian Yard, Wallsend, North Tyneside.
The Hadrian Yard is a strategic industrial site extending to 30ha (75 acres) on the North Bank of the River Tyne encompassing 42,840 sq. m (461,128sq.ft.) of high quality industrial, warehouse and office accommodation.
The freehold investment, which has unique facilities including 1km of waterfront, has been acquired by Smulders Projects UK. The property is currently used as a manufacturing and assembly yard for jacket foundations for use in offshore wind turbines.
The deal was secured by Simon Beanland (Investment) and Danny Cramman (Industrial) at Avison Young.
Simon comments: "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 user and investors."
Danny 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."