Middlesbrough’s commercial property regeneration will gather speed in 2019
20 March 2019
Middlesbrough’s commercial property regeneration is well underway and will continue to gather pace in 2019, according to the town’s most experienced commercial property agent.
Stephen Brown, Senior Partner at Dodds Brown, says that the on-going development of grade A office and business space in the town will finally give Middlesbrough the standard of accommodation which national organisations demand.
Mr Brown says: “The construction of 200,000 sq ft of grade A office accommodation in Centre Square is well underway, with the first two buildings which are expected to be completed in August , the first already let to Middlesbrough Council, and despite the current caution throughout the whole of the UK market due to Brexit, we have a very good level of interest in the rest of the scheme.
“Centre Square which already boasts Holiday Inn Express, Turtle Bay, Bistrot Pierre and a refurbished Town Hall, will be further enhanced as a restaurant destination by additional food and beverage outlets on the ground floor of the new office development.”
In the town centre, the development of Centre Square is complemented by the Albert North initiative to regenerate the northern half of Albert Road, the main route to the railway station which itself is benefitting from a multi-million refurbishment to allow trains to run direct to London by 2020.
Just out of the town centre, work has now started on the construction of the TeesAMP Advanced Manufacturing Park, with the first buildings of the 180,000 sq ft phase 1 development projected to be ready for occupation by Christmas 2019.
“It may be hard to believe but there is a real shortage of quality office and business accommodation across the area. The TeesAMP and the Centre Square developments are putting Middlesbrough on the map as an attractive and modern business location, not just somewhere to be serviced from places such as Leeds or Newcastle,” continues Mr Brown, who has worked in commercial property in Teesside for more than 30 years.
“Many of the older existing offices in the town have already been converted for hotel or residential use, or adapted for the needs of other occupiers, and the rest will follow. The Holiday Inn Express Hotel used to be office space at Cook and Endeavour Houses, while six of the eight floors of available space at Dundas House has been taken by Middlesbrough Council for its LiveWell Centre.”