Developer, asset and property manager, FI Real Estate Management (FIREM), has received planning permission from Durham County Council to redevelop a 2.58-acre site on Bracken Hill Business Park, Peterlee.
The approved industrial redevelopment will consist of nine units ranging between 5,400 sq ft and 7,400 sq ft. Collectively, the units will create a total of 55,475 sq ft of new commercial space. The site will also include 80 car parking spaces.
The Peterlee site was once home to the former Gemini office block. After standing vacant for some time, the building was deemed no longer fit for purpose, resulting in its demolition in 2020 to make way for a new development opportunity.
The site is located to the south east of Peterlee town centre on the Bracken Hill Business Park, a modern campus development which has grown steadily over the past 20 years. It is ideally located just 0.5 miles from the A19, which is reached via Whitehouse Way and Shotton Lane, and offers fast and easy access to the Tyne and Wear conurbation to the north.
Once complete, the new Gemini estate will sit within FIREM’s already extensive UK 10m sq ft portfolio of commercial property; comprising 5m sq ft of industrial space, and a further 2.6 million sq ft of new build property in the pipeline.