A renewable energy systems company has acquired a new factory/warehouse in North Tyneside.
Geowarmth, a renewable energy systems company, specialises in biomass, ground-source heat pumps and air-source heat pumps. The firm designs, supplies and also installs underfloor heating, radiators and domestic hot water cylinders.
The business, which was set up in 2004, has now acquired a 4,000 sq ft factory/warehouse unit at 3 Neptune Court, Tyne Tunnel Estate, North Tyneside, for an undisclosed sum and it will use it as its new headquarters.
The firm operates nationally with most of its work between the M62 and Scottish central belt in areas such as Cumbria, Lancashire, Yorkshire, Cleveland and Tyne and Wear.
Chris Pearson, partner, Gavin Black & Partners who advised Geowarmth, said the modern unit “is ideally suited for our client following adaption works including the provision of internal office accommodation”.
He added: “There were very few units of a similar size and nature available to purchase and we are delighted with this acquisition which is well below the asking price.”
John Withers, managing director of Geowarmth, said the move from Sandyford, Newcastle, is an essential part of growing the business. He said: “We needed modern premises within which we could expand. We are delighted with the acquisition which is in an ideal location with access to the A19 and Tyne Tunnel giving us excellent connectivity.”
The vendor, PW Furniture, was represented by Chris Donabie of DTZ.