Developer starts work on Darlington retail park
Northern development firm Almscliffe-Dhesi (AD) has begun work to transform a derelict industrial site in north west Darlington, County Durham, into a multi-let retail park.
Construction work has commenced on the site and is scheduled to finish this September.
Occupiers that have already signed for units at the scheme include Costa Coffee, Greggs, Indigo Sun, Harrison Vets, and Fastnet.
A portion of the site has also been sold to McDonald’s, which is constructing its own unit at the entrance.
The news comes shortly after AD announced that it had completed three major retail projects across the North East of England and North Lincolnshire.
Neil Creeney, director at AD, said: “We are delighted to report that work has started on site at Faverdale and is on target to finish this autumn. All on-site buildings have now been demolished and steel construction work is starting shortly.
“This is Phase One of a wider development on the Faverdale site. There is a further four acres that have retail consent which will be developed in due course.
“We are extremely pleased to have signed up a number of high-profile and successful retail operators for Phase One. They will make a significant difference to the retail offer in this popular area of Darlington and will prove to be a timely boost for the local economy.”
The funding for the £4m development was provided by Hampshire Trust Bank (HTB).
Creeney added: “HTB’s hands-on approach and flexibility made a huge difference. Their willingness to work closely with us throughout the process has been invaluable. It’s rare to find a lender so willing to understand and accommodate the unique needs of developers.”
Neil Creeney and Bal Singh formed Almscliffe-Dhesi in 2019. Creeney previously worked for Yorkshire-based developers Opus North and S Harrison Developments, whilst Singh owned a string of pharmacies across the north east of England.
Singh said: “We have recently completed three successful developments in the North East and North Lincolnshire which have given us the confidence that our business model is the correct one, attracting popular national retailers to regenerated brownfield sites and creating new and sustainable jobs. We are now on site at a prestigious development in Sunderland as well as at Darlington.”
@retail is the marketing agent for the scheme.