National property consultancy, Bradley Hall, and joint agents, MHPI, have completed the sale of two prominent industrial estates on Team Valley Trading Estate in Gateshead for a combined value of more than £10 million.
Earlsway Trade Park and Derwent Court, which together comprise 99,608 sq ft of industrial and trade accommodation across 21 units, have been acquired by Northern Trust Company Ltd, further expanding the property company’s established North East portfolio.
Bradley Hall and MHPI acted as joint agents on behalf of vendor Northumberland Estates, advising on the sale of the two assets and bringing the opportunity to the investment market.
Bradley Hall Principal Asset Manager Anthony Cape and Agency Surveyor Harry Towers completed the transaction on behalf of Northumberland Estates alongside Simon Harland of MHPI.
Anthony Cape, Principal Asset Manager at Bradley Hall, said: “The successful sale of Earlsway Trade Park and Derwent Court is a significant transaction for Northumberland Estates and demonstrates the continued appetite for well-located industrial investment across the North East.
“Both assets offered a strong combination of scale, location and established income, and the level of interest generated throughout the sales process reflected the quality of the opportunity and the strength of Team Valley as an established industrial location.
“We are delighted to have completed the sale on behalf of Northumberland Estates, working closely with our joint agents at MHPI throughout the process. Transactions of this scale require a collaborative approach and a detailed understanding of both the assets and the investment market, and we are pleased to have delivered a successful outcome for our client.
“The transaction also highlights the depth of demand we continue to see for good-quality industrial investments across the region, particularly where assets are located within established commercial estates with strong transport links and a broad occupier base.”
Located within one of the North East’s most established commercial estates, the two properties provide a diverse range of industrial and trade accommodation. Earlsway Trade Park comprises 15 units arranged across three parades, while Derwent Court provides a further six industrial units.
The combined sale value of more than £10 million reflects the scale and quality of the assets, as well as continued demand for industrial investment opportunities in established locations across the North East.
Team Valley is one of the region’s key commercial and industrial locations, benefiting from direct access to the A1(M) and strong links to Newcastle, Gateshead and the wider regional road network. The estate is home to a diverse range of national, regional and local occupiers, providing an established environment for businesses across a variety of sectors.
Jonathan Houghton, Operations Director at Northern Trust, said: “Earlsway Trade Park and Derwent Court are excellent additions to our North East portfolio and fit well with our strategy of investing in established industrial locations where there is strong and sustained demand for business space.
“Team Valley is a well-established commercial location with a diverse occupier base, and these estates provide a good mix of unit sizes to meet the needs of local and regional businesses.
“The acquisition of these estates strengthens our presence in Gateshead and demonstrates our continued commitment to investing in and growing our North East portfolio.”
The acquisition brings a further 99,608 sq ft of industrial and trade accommodation into Northern Trust’s portfolio and strengthens its presence within Team Valley, where demand for well-located business space continues to support investment activity.
For Northumberland Estates, the transaction represents the successful disposal of two significant industrial assets within its property portfolio, with Bradley Hall and MHPI working jointly to manage the sale process and secure a buyer.
Harry Towers, Agency Surveyor at Bradley Hall, said: “Earlsway Trade Park and Derwent Court presented an attractive investment opportunity, combining a substantial amount of industrial accommodation with an established location and occupier base.
“There continues to be strong investor interest in well-located industrial assets across the North East, and this transaction is a good example of the scale of investment being attracted to the region.
“It was a pleasure to work alongside Anthony, Northumberland Estates and MHPI to bring the sale to a successful conclusion.”
The transaction is the latest example of Bradley Hall’s activity within the North East investment market, with the firm’s agency and asset management teams continuing to advise landlords, investors and occupiers across the region. For further information on Bradley Hall’s Commercial Agency department, visit https://www.bradleyhall.co.uk/end-to-end-services/commercial/
