DECADES of North East industrial heritage is going up for sale as engineering and construction firm Amec puts its Hadrian Yard in Wallsend on the market.
The freehold of the 75-acre site is being marketed as a mixed use opportunity potentially including employment and residential development, with developers invited to strike a deal to buy the freehold and then secure planning for redevelopment.
Interested parties have until Monday, May 19, to register their interest in the site, which has an extensive river frontage, and extensive concrete yards suitable for a variety of uses. There are offices, fabrication shops with overhead cranes, and stores buildings, with many tenants already in place. The agents say any new owner would have to accommodate the needs of the existing occupiers into their plans for the yard.
The Hadrian Yard forms a major section of the north Tyne riverside which has been the subject of research, the River Tyne North Bank Study which aims to shape the future land uses in the area. The study has been commissioned by Newcastle and North Tyneside councils, and One NorthEast.
Work is being carried out on the viability of marine-related employment in the area, but Amec has decided to sell before a definite picture of development plans is in place.
Richard Shield of DTZ in Newcastle, said: “We are trying to get to a position where there’s a view taken by public bodies about the sustainability of marine related uses on riverside sites. That will be influencing lots of land owners’ decisions at the moment.
“What Amec has decided to do is dispose of this site, as operationally, in terms of their core businesses, it is not an asset they need to hold on to – and they are not a property company. Amec will look to secure best value. The disposal may be through a sale now and claw back, or they may grant developers an option. ”
Mr Shield said existing tenants, who include such companies as the high profile The Engineering Business, would be looked after.
The Hadrian Yard is located just off the A187 Hadrian Road in Howdon, around five miles east of Newcastle city centre, and close to Hadrian Road Metro station and the Tyne Tunnel.
The site is currently allocated in the North Tyneside Unitary Development Plan (UDP) for employment uses, but a Wallsend Town Centre Area Action Plan is currently being prepared and is considering how currently vacant land could be put to use.