Investment sparks new circa 80,000 sq ft commercial development in Newton Aycliffe

A significant seven-figure investment package has been secured by Acornfield Properties (Durham) Limited part of Manchester-based The Prime Group. It is funding the construction of a new, circa 80,000 sq ft commercial development at Aycliffe Business Park in County Durham.

Prime Point Durham is located at Carlbury Road, Newton Aycliffe, just off the A167 and close to the A1(M). It sits within the wider Aycliffe Business Park. Construction is underway on the site which will consist of two commercial warehouse units covering 36,069 sq ft and 41,592 sq ft. The project is expected to complete by the end of 2026.  Both will include ancillary office space and offer eaves heights of up to 12 metres, alongside 35 car parking spaces, including EV charging points. 

The project is supported by North East Mayor Kim McGuinness while funding to support the development has been provided using a loan provided by FW Capital under the North East Commercial Property Investment Fund which is managed by FW Capital and backed by The North East Mayoral Strategic Authority (North East MSA). A seven-figure incentive has also been provided by Mayor Kim and the North East MSA to address the financial viability gap. This inward investment scheme will drive local economic growth and support new job creation in the region by bringing high-quality industrial space to the market.

Jeff Pike, Director at The Prime Group said: “Being originally from the North East, it’s fantastic to bring our first commercial development to County Durham. Newton Aycliffe is an excellent location boasting prime transport links. While we have established residential developments in the area, this marks our first commercial venture here. The site is a speculative development available for let or sale, and the team at FW Capital have been supportive throughout the entire funding process.”

Graeme Watson, Senior Investment Executive at FW Capital added: “Acornfield Properties (Durham) Limited is part of the very well-established Prime Group. It’s great to help them bring their first North East-based commercial scheme forward. This inward investment ensures the project is commercially viable, ultimately boosting the local economy and creating vital employment opportunities for the region.” 

HTA Real Estate and Connect Property North East have been appointed joint agents on the development.

The North East Commercial Property Investment  Fund is a £35million fund which provides loans of up to £7 million to support both non speculative and speculative developments.