Construction work starts on £2.6m speculative business park in West Chirton

Hellens Group will start construction work this week on a brand new £2.6m West Chirton project that will provide a 34,000 sq ft, 17-unit space for businesses close to the A19, a news report in the local media has revealed.

The project is the first speculative business park scheme north of the Tyne developed since the start of the credit crunch and will employ more than 150 workers during the building phase, which is expected to be completed by June next year.

Hellens chief executive Gavin Cordwell-Smith said: "The banks aren’t lending for speculative property building even where there is a proven case and proven demand.

"The site is land we already owned and had bought pre-credit crunch to develop. The project was stalled for five years because we couldn’t get funding. It’s a very good location close to the A19 and just north of the Tyne Tunnel, just off the Silverlink roundabout.

"The offshore and manufacturing sectors are active on the north side of the Tyne at the moment and we hope to pick up demand from businesses for accommodation."

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