Northwood News

Work starts on Team Valley retail parade

29 August 2018

Work is underway to refurbish some 1980s offices on Team Valley to provide retail units and modern office suites. Enterprise House on Kingsway North is being refurbished by owners UK Land Estates to provide seven retail units on the ground floor with five office suites above. Each first floor office will have its own entrance at the rear of the retail parade.

The development is in a thriving retail location – next to the existing shopping village, home to a branch of Lloyds bank, and close to Retail World. Once completed each of the seven shopping units will provide about 84sq metres of gross sales and storage space although there is the flexibility to amalgamate the retail spaces or to amalgamate the ground and first floor accommodation for specific uses.

Tim Witty, at UK Land Estates, said: “Enterprise House occupies a fantastic position, however, the building had become obsolete. The work will revitalise and transform it, providing well-located retail units with prime frontage on to Kingsway, along with well-designed office suites. We feel that this is the right thing to do and the right time to do it.”

“Team Valley is a thriving community and home to over 700 businesses who employ over 20,000 people from the skilled manual and service trades to high-end manufacturing and service trades. What we are creating will look like a new-build and will be ideal for shops, restaurants and cafes or companies who provide financial and professional services.”

In November last year UK Land Estates announced its intention to develop its core estates, which also includes Teesside Industrial Park and the Tyne Tunnel Trading Estate, after selling off a portfolio of nine smaller estates to Columbia Threadneedle Investments.

Retail unit rental is being handled by @retail, with Knight Frank looking after office accommodation.