Northern Trust has officially opened its new industrial/workshop development in Stoke-on-Trent.
The 27,687 sq ft North Staffs Business Park is located at Chatterley Valley and forms part of the company’s new £11 million investment which also includes a serviced office centre, due for completion in July.
Jonathan Houghton, Development Surveyor at Northern Trust, said: “North Staffs Business Park is another welcome addition to the Northern Trust portfolio. Designed to cater for the requirements of the small and medium enterprise market, as well as local start up businesses, the units will be available on easy-in, easy-out tenancy agreements. We are confident that the high quality scheme and flexible terms will prove a huge success in attracting existing and start up businesses to the area.”
The North Staffordshire Regeneration Partnership (NSRP), whose partners include regional development agency Advantage West Midlands (AWM) and Stoke on Trent City Council, launched a competition to find a developer to build and run the scheme.
Henriette Lyttle, Partnerships Director at AWM, said: “It is fantastic to see the transformation of the former derelict colliery site into the £40 million business park we see at Chatterley Valley today. The North Staffordshire Business Park is a perfect example of how the partnership between public sector and private sector investment will play a key role in boosting the region’s economy.
“Part of AWM’s total investment to the site includes £1.7 million of gap funding towards the Northern Trust’s recently launched industrial/workshop facilities.
“Business start up is low in the region, so these facilities have been specifically tailored to meet the needs of small/medium sized and young businesses. After many discussions with various businesses across the region, the need for flexible tenancy terms was echoed as a way of helping businesses survive the economic downturn.”
Coun Adrian Knapper, Stoke-on-Trent City Council portfolio holder for regeneration and economic development and North Staffordshire Regeneration Partnership board member, said: “The North Staffs Business Park is a state-of-the-art enterprise centre set in Chatterley Valley. The over all aim of the project is to provide an innovative industrial park which embraces the latest thinking in sustainability. The whole Chatterley Valley project is expected to create around 1,000 jobs in North Staffordshire by 2030. In the current climate it is important that the city council works with its partners to try and encourage employment in the area.”