Electrical distributors snap up 10-year Riverside Park lease

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Park Electrical Distributors has taken a new 10 year lease on Unit 2 (right) in a deal arranged by Dodds Brown

Park Electrical Distributors has taken a new 10 year lease on Unit 2 (right) in a deal arranged by Dodds Brown

One of the North-East’s largest electrical wholesalers has chosen Middlesbrough as the location for a new branch, bringing eight new jobs to the town.

Park Electrical Distributors has taken on a new 10-year lease at a 15,170 sq ft industrial unit at Raleigh Court on Riverside Park in Middlesbrough.

The £48,750-a-year rental deal was arranged by Teesside independent commercial property consultants Dodds Brown, acting on behalf of Tesco Pension Fund.

With a turnover of £20m, a current workforce of 64, and a trading history of more than 25 years, Park Electrical Distributors is one of the largest electrical wholesalers in the North-East.

Its branch at Riverside Park in Middlesbrough, which will open in January 2016, will be its fourth, after Gateshead, Newcastle and Sunderland. A fifth branch is planned to open in Durham in 2016.

Dodds Brown say Park Electrical Distributors was attracted to Riverside Park because of good road access to both the A66 and the A19.

One of Middlesbrough’s primary industrial estates and business parks, the development already accommodates many international, national and local businesses.

Riverside Park is located close to Teesside Advanced Manufacturing Park where the park’s developers and Dodds Brown are working closely with Middlesbrough Council and Tees Valley Unlimited to attract new occupiers to nearly 70,000 square metres of office, workshop and laboratory space, hybrid and light industrial units, and larger custom designed buildings.

Construction of a research centre for Middlesbrough offshore specialists TWI Ltd is already underway.

 

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