Posted on February 14, 2019 by staff

Amazon ‘opening new centre in North East’

Amazon ‘opening new centre in North East’

New centre is likely to create thousands of jobs
New centre is likely to create thousands of jobs

Retail giant Amazon is believed to be opening a new logistics center in the North East.

County Durham is rumoured to be a new home to Amazon as work is underway to construct a fulfilment and distribution centre at Symmetry Park near Darlington.

The expansion is being funded by real estate investment group Tritax Big Box REIT for £120 million, with a 20-year lease already in place.

Investors behind the build have said there will be “high levels of automation”, but it is still likely to create thousands of jobs.

Tritax says the site has been let to a “financially robust world leading retailer”, which is believed to be Amazon.

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Colin Godfrey, partner at Tritax, said: “We worked very closely with our occupier customer to deliver this state-of-the-art, pre-let development, which provides the company with further exposure to a market leading occupier.

“Strategically located in an increasingly important logistics location with a strong labour supply, this asset, once operational, will be the largest single let logistics facility outside the South East, as well as one of the most technologically advanced fulfilment centres in the UK, whilst providing further exposure to a high calibre tenant on a long lease.”

The £147.3m deal was carried out in December and was the largest property transaction signed in the region last year.

Tritax’s board announced it had completed contracts for the development of a new logistics fulfilment centre with 1.99m sq ft of floor space with three mezzanine floors.

Jonathan Walker, assistant director of policy, North East England Chamber of Commerce, said: “The level of investment by Amazon in our region is excellent news.

“It will create jobs and is a great show of confidence in, not just our skilled workforce, but the new business developments being created at present. The Amazon announcement really builds on the potential for growth in the North East.”

The firm is set to become the occupier of Integra 61, next to junction 61 on the A1(M), which is described in marketing materials as offering the “largest scale logistics and manufacturing development the North East has seen in a generation”.

The facility is set to be developed by London headquartered Citrus Group and will be ready for Amazon to move in next summer.