A successful working partnership between land regeneration and property development company, Harworth Group, and commercial tenant, Lynx Precast, has led to a £1.6m purchase agreement enabling the concrete manufacturer to buy existing premises as well as additional land for future expansion at Lynefield Park, Northumberland.
The ownership arrangement will see Harworth Group hand part of the former Alcan site at Lynemouth, Northumberland, over to Lynx Precast as part of a 150 year leasehold agreement in order for the company to realise ambitious growth plans.
The deal, which includes approximately 150,000 sq ft of manufacturing facilities on 14 acres of land and the option of seven more at the 320 acre site, has been shaped to allow Lynx Precast to fast-track expansion to meet heightened demand, make significant investment in its long-term future and add ten new jobs to its 46-strong workforce over the next twelve months.
It has also helped to accelerate the introduction of new production lines including bespoke, reinforced concrete products to serve the transport, infrastructure and rail network industries in addition to the UK’s housebuilding and construction sectors. This has led to additional investment in advanced plant and machinery in the region of £650k to increase manufacturing capability and serve larger, nationwide clients.
This is an exciting phase of development for the company and one which will allow us to make significant investment in the business as well as the local area too. We have 46 employees currently at Lynemouth but this will increase over the next year and beyond, helping us to grow steadily, free us up to configure the land and buildings to suit our requirements, enter into new markets and serve larger clients up and down the country with high quality, pre-stressed flooring and reinforced concrete products.
Our long-term future is at Lynefield Park as the site provides everything we need in terms of growth potential, easy access to main transport links including the A1 and A19, and site security. The relationship which I, and many of the other occupiers here on-site have with Eddie Peat (Harworth), has been pivotal to creating, developing and realising this opportunity and therefore I would like to thank him and Harworth Group for their support.Andy Teasdale, Lynx Precast MD
Harworth Group has, since acquiring the site from Rio Tinto in 2015, invested more than £2million into Lynefield Park, completing complex demolition, excavation and ground engineering works whilst providing fit-for-purpose commercial space for industrial-based occupiers. The brownfield land is seen as a key strategic site for attracting inward investment and possible large-scale manufacturing, energy or industrial-based organisations to Northumberland if looking at the North East and the North of Tyne to build a new plant.
The partial site ‘handover’ with Lynx Precast is an example of how Harworth works closely with occupiers to maximise their business potential as well as help generate employment opportunities for areas which have suffered job losses historically from traditional industry closures. Other sites including, Waverley in South Yorkshire which was once home to Orgreave Colliery, now includes an Advanced Manufacturing Park with tenants including McLaren Automotive and a mixed-use development scheme with 4,000 homes.
We are delighted to have played a part in Lynx Precast’s success and, more importantly, its future by handing part of the site over and ensuring that the company can grow without relocating from its existing base. This will provide the team with the freedom to adapt the land and buildings to meet all necessary business requirements moving forward.
It is essential, that land and property owners, especially in today’s uncertain economic climate, work closely with their tenants to offer support whichever way they can. This is therefore very good news for Lynefield Park, the local area and the wider community in terms of jobs and I wish Lynx Precast all the best for the future.Eddie Peat, Director (North East) for Harworth