Independent cement, concrete, aggregates and asphalt suppliers Hope Construction Materials has taken a 10-year lease on an office suite in Team Valley, Gateshead, for its regional headquarters.
Hope was recently created following the acquisition by Mittal Investments of the combined asset portfolio of divested sites by two of the UK’s conventional building materials companies, Tarmac and Lafarge.
The business now has a UK-based workforce of more than 800 people. As Hope Construction Materials chairman, Amit Bhatia says, the formation “is not only evidence of our long-term confidence in the recovery of the UK economy and its construction sector, but also of our belief that there is an opportunity in the marketplace to re-define the service provided by businesses in this segment.”
Patrick Matheson, associate at Knight Frank who advised UK Land Estates, on whose Queen’s Park the 6,309sq ft suite is located , says it was an important letting and one that had to be completed on tight timescales. “UK Land Estates was very much aware of the timescale and were able to undertake fit out works to match Hope Construction Materials exact requirements in terms of fit out and finish,” says Mr. Matheson.
Mike Young, head of land and mineral resources for Hope Construction Materials says: "Following the creation of our new company in early January we required a high-quality office solution for our much valued Northern regional team.
"UK Land Estates provided a fantastic turnkey service.
"We are delighted with the location and the quality of space. This was an excellent outcome for us."
There is now only a single wing on the ground floor available which is 8,500 sq ft. Plans are being finalised to split this suite into smaller suites and UK Land Estates are happy to speak to companies who are looking for office accommodation.
John Seager, associate director at UK Land Estates confirmed: “We believe our ability to deliver a bespoke, turnkey accommodation to meet Hope Construction Materials exacting timescale illustrates exactly what sets us apart from other landlords.”