Next year will see commercial property development and residential investment company Terrace Hill start work on developing sites in Sunderland and Skelton, East Cleveland.
They have been given planning permission to build two supermarket schemes for Sainsbury’s and Asda, subject to final confirmation from the Department of Communities and Local Government. Sunderland and Skelton will become part of the ongoing competitive expansion plans of these two supermarket giants.
The commercial property for Sainsbury’s will offer 60,000 sq ft of sales area, 537 parking spaces and a petrol station. The site is in the north of Sunderland and is currently occupied by a car retailer. Redevelopment will begin towards the middle of 2012 and is expected to be open and part of Sunderland’s commercial property portfolio by spring 2013.
The commercial property development for Asda will have a sales area of 25,000 sq ft, 239 car spaces and a petrol station. Work on the commercial property will start in the first quarter of 2012, ready to open by the end of the year.
As well as providing commercial property in Sunderland and the North East, the company manages a commercial property development programme across the UK. Regional offices are inLondon, the South West and Scotland.
In the North East, current commercial property schemes include the Northern Gate Centre – an office space for start-ups with areas for exhibition and research. This 52,000 sq ft commercial property is scheduled for completion in November 2011.
In the South West, the 108,000 sq ft Christchurch Business Park, Dorset, is under construction. Phase 1 has been pre-sold to mobile accessories distributor Kondor and the remaining commercial property units are being marketed. Along the road in Helston, Terrace Hill previously completed a commercial property project for Sainsbury’s in 2010. The 55,000 sq ft supermarket was delivered in 2010.
In London, Terrace Hill has been involved with the Kean House commercial property enterprise in Covent Garden. The 25,000 sq ft commercial property was completed in November 2007, comprising 21,500 sq ft offices and just over 2,000 sq ft of retail space. West of London, previous commercial property constructions include Quantum, 122,000 sq ft of out-of-town offices spread across two Grade A commercial property buildings in Maidenhead.
Further south is the Brampton Road commercial property. The mixed industrial and trade park scheme is two miles outside Eastbourne and offers 108,000 sq ft of commercial property space.
Back up north, Terrace Hill anticipates Sunderland and Skelton to receive a ‘much needed boost in services and investment’. The spokesperson also said granting permission for the commercial property in Sunderland and Skelton was ‘a further demonstration of our ability to identify and source suitable sites for foodstore development’. In June, one such deal was struck, on a commercial property in County Durham, twelve miles from Sunderland. This is subject to receiving planning permission and securing a pre-let on the projected 50,000 sq ft retail commercial property. Public consultation is underway and a decision is expected on the commercial property in the early part of 2012.
Reports say the government should grant final approval to the Sunderland and East Cleveland commercial property proposals by the end of September.
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