Womble Bond Dickinson (WBD) has assisted Integra in securing £75m in funding to enable a new 650,000 sq ft speculative development at the Integra 61 mixed-use project.
The development near Durham is already home to Amazon's two million sq ft fulfilment centre and has the potential to create more than 4,000 jobs over the next 10 years. The new industrial space, to be known as Connect, is set to include 270 new homes, a 70-bed hotel, vehicle dealerships, leisure space including a family pub and restaurant, nursery and a number of trade counter and roadside units, which WBD are also acting on.
David Cullingford, Project Lead for Integra 61 and Citrus, commented:
"The funding will accelerate delivery of the next phase of development at Integra 61. We have a real opportunity here to make a significant contribution to the regional pipeline for industrial and logistics accommodation and to ease the well-documented shortages in the North East."
"Having been involved with the Integra 61 project since inception, this transaction represents another important milestone for the scheme and the team at WBD look forward to our continued involvement with the exciting and dynamic development."