Commercial People has learned that property developer, Citrus Durham, has submitted a reserved matters application to Durham County Council for the next phase of development at their major, £300m mixed-use, Integra 61 facility.
Known as ‘Evolution@Integra61’ the new phase will include 24 industrial units totalling 50,921 sq ft and ranging in size from 1,205 sq ft up to 4,625 sq ft.
Developer Citrus Durham has stated that the units (which will be available to purchase or lease), have been designed to address the regional shortage of modern small units and to satisfy strong demand from local and regional occupiers.
Commenting on the project, David Cullingford, Project Lead for Integra 61 and Citrus Durham, said; “The creation of the smaller units makes Integra 61 a truly inclusive scheme, with wide-ranging opportunities for businesses of all sizes. This further significant investment will generate yet more jobs and we are pleased to be able to support regional occupiers with their growth ambitions and be part of this unique project in County Durham.”
Evolution@Integra61 agents, Avison Young and Colliers International, are now taking reservations on the new units – ready for occupation by Q4 2021 (subject to planning consent).
Integra 61, which is already home to Amazon’s new 2 million sq ft Fulfilment Centre, will also be the site of a wealth of other developments in the near future. Developer Citrus Durham has revealed that 300 new homes and ‘significant roadside opportunities’ including drive-thru’s, a 70-bed hotel, family pub/restaurant, nursery, car showrooms and trade counter/retail units are planned.
The ambitious Integra 61 project is just 4 miles away from the City of Durham and has once fully let, has the potential to deliver approximately 4,000 jobs.
Recent research by Avison Young demonstrates the critical lack of new build space in the North East. There has been an average provision of under 150,000 sq ft per annum of speculative new build space over the last five years – a figure that is well below what is needed to satisfy demand.
According to Avison Young’s research, many small unit schemes recently built in the region are already fully occupied and are achieving record rents. In addition, the property agent is keen to stress that all of these schemes have been available on a leasehold basis only, whereas the units at Evolution@Integra61 will be available for companies to lease or purchase, giving occupiers greater flexibility.
Commenting on the research and the Evolution@Integra61, Danny Cramman, Director at Avison Young, said: “Our research clearly demonstrates the regional need for these new units. They are ideally suited to local and regional businesses and crucially offer companies the opportunity to own their own premises which is very rare in this size range.
“Occupiers can also take advantage of the wider benefits of being part of one of the region’s most dynamic new employment hubs which, together with the roadside elements and new homes now being delivered, will provide an exceptional offering for employees, residents and visitors alike.”
Featured Image: CGI shot of Evolution@Integra61