Canmoor buys site for major Stockton-on-Tees industrial scheme

By Paul Norman - Thursday, October 12, 2017 11:01

Canmoor is working up plans for Dynamo Park, a major industrial scheme on 36 acres at Cheltenham Road in Stockton-on-Tees, after buying the site from Claymore Investment Management acting on behalf of Oaktree.

The site is located in Stockton, adjoining the Portrack Retail Park and fronting the A19.

Claymore was appointed to prepare the land for sale following an acquisition of the debt from NAMA by Oaktree in late 2015.

Neal Shegog from Claymore said: “After taking on the site which had languished within NAMA, with very little information available, we are delighted to have enabled its sale to a developer of Canmoor’s calibre. The sale of a site of this size is a notable fillip for the north-east’s industrial market.”

HTA acted for the vendor and will be retained by Canmoor to let the development. Cushman & Wakefield had been jointly appointed.

Guy Leslie of Canmoor said: “The site is to be relaunched as Dynamo Park and we are keen to attract pre-lets and presales to the logistics site. There is minimal supply and a number of good named occupier requirements.”

pnorman@costar.co.uk

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