100 investors already eyeing up South Tees Development Corporation site Posted on: December 3rd, 2018 More than 100 investors have already expressed an interest in the South Tees Development Corporation’s 4,500 acre site, the interim head of the regions Combined Authority has said. Julie Gilhesphie, Interim Managing Director at Tees Valley Combined Authority told delegates at our Tees Valley event that the site, which incorporates the former Redcar SSI steelworks, is ‘truly awe inspiring’. Whilst she couldn’t name any of the potential investors quite yet, they would ‘revolutionise the industrial platform of the region’. The site is set to be home to 21st century industry, with Gilhesphie adding: “The project will put the region at the forefront of the next industrial revolution. At the same time, we are diversifying the site, so we’re not in a position ever again where on business closing can have such a devasting impact on the region as the closure of the SSI steelworks.” [emaillocker id=”71749″] Looking further afield, she also spoke about the Combined Authority’s strategic economic plan, which aims to create 25,000 jobs over 25 years and boost the region’s GVA by £2.8bn over that period. The Combined Authority has already created 8,000 jobs and invested £51m to date, with a further £104m committed for the 2018/19 financial year: “This is about talking up Tees Valley and the great opportunities that are here, not just now, but for generations to come. Change is happening and over the next 15 years, I think we will see a huge amount of development in the region. This is just the beginning.” The Chief Executive of Middlesbrough Council, Tony Parkinson, told delegates about the local authority’s investment prospectus, which aims to create £625m of inward investment – with one of the key priorities being the physical regeneration of Middlesbrough town centre. He said: “This is not just about creating new buildings, it’s about changing the narrative around Middlesbrough. It saddens me that Middlesbrough is a good place to come on a bad news day. We are going to change that narrative and create some positivity.” Parkinson also spoke about the council’s plans to create a major leisure and housing hub in Middle Haven, after the local authority acquired most of the land from Homes England. One of the other key developments, according to Tony Parkinson, will be the 210,000 Centre Square, which will become the ‘premier office location between Newcastle and Leeds’. Mark Ashall, Director at Ashall Projects who’re behind the said Centre Square development, was also in attendance speaking about the scheme. He said planning permission has now been granted for five buildings on the site. Two of those buildings are currently being built as part of the first phase of development, including one which will be the new headquarters of Middlesbrough Council. Of the development he said: “We believe Centre Square addresses the lack of Grade A office space in Middlesbrough and will create a new office hub and a motor to drive the local economy.” The development sits close to Teeside University and Middlesbrough College – helping employers source qualified staff and training. It will also boast a high-quality public realm whilst ensuring it’s at the heat of the local transport network for easy connectivity to the surrounding area. The events final speaker, Stephen Brown, spoke about the ongoing work around the Tees Advanced Manufacturing Park (TeesAMP) which is expected to bring 1,000 jobs into the region. The project, now fully funding, is entering its first phase which will see 180,000 sq ft of units being built. Full planning consent has been granted for the phase meaning the first buildings should be up by the Summer of 2019 – with everything completed by the end of next year. [/emaillocker]
