A leading business and science park on Teesside has doubled its letting figures in the last year following an investment programme to revamp its facilities.
Almost 59,000sqft was let to new and existing tenants at the Wilton Centre in 2014 – a significant increase on the previous year when 23,000sqft was signed up.
Total occupancy is now running at 70% at the 75-acre site, based between Middlesbrough and Redcar, up from 57% in 2011.
The rise comes after the centre revamped and refurbished its Lakeside restaurant and coffee shop, launched a gym for tenant employees and created a suite of conference and meeting rooms.
Site director Steve Duffield said that the improvements have added significantly to the attraction of the centre as a location for business office space, as well as its reputation as a world-class science park.
He said: “We took a long term view when the economy was less robust, that it was worthwhile investing in the premises to sow the seeds for future growth in lettings when things started to improve again.
“Last year’s figures show that this was a prudent approach to take. The buzz is certainly back at the Wilton Centre.
“Signings were very healthy last year, and with a number of new businesses having taken up new space already this year, and a big relocation on the horizon in the next few weeks, we are cautiously optimistic things will be even better in 2015.”
Leases have recently been signed with a series of new businesses, and high numbers of existing tenants have renewed space lettings.
Newcomers include life sciences company Absolute Antibody, which is developing next generation engineered antibodies, which relocated its laboratory and office operations from Oxfordshire to the centre, while expanding its business at the same time.
Other arrivals included Whiterock Executive Limited, a national executive recruitment agency headquartered in Leeds, and Manchester-based process engineering specialist Haden Freeman, which also launched a regional office employing seven at the centre.
Wilton Centre’s commercial property agent, Stephen Brown, partner at Dodds Brown, said: “The demand for the centre reflects both the quality of the office accommodation and the excellent facilities and environment.
“With car parking being abundantly available and the new top quality facilities, it is now attracting interest from the wider business community.”