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Citrus Secures £75M Funding For Integra 61 Durham

Citrus Durham (“Citrus”) has secured £75M funding to enable the speculative development of circa 650,000 sq ft of new industrial space, to be known as Connect, at the Integra 61 mixed-use project at J61 of the A1(M), Durham.  Avison Young and Colliers acted for Citrus Durham on the funding.

Connect will comprise a 342,000 sq ft industrial/logistics development of four high quality units ranging from 43,000 to 152,000 sq ft. In addition, a 298,000 sq ft stand-alone, 15 metre high bay industrial/warehouse unit will be delivered on an adjacent plot. Connect 298 will be the largest speculatively developed industrial/warehouse unit in the North East for over a decade and will fill a crucial void in the regional supply pipeline.

Avison Young and CBRE will be marketing the new units to potential occupiers, helping to meet the demand for high quality new build industrial/warehouse accommodation in the region.

GMI Construction has been appointed as contractor for the build and work has started on site with the Connect units ready for occupation in summer next year. The acute shortages of high-quality modern logistics/industrial supply in the North East have been analysed by the Citrus team and the units have been sized to satisfy the growing regional demand for units in this range.

Integra 61 is one of the North East’s most significant regeneration projects with outline consent in place for over 3 million sq ft of employment space with the potential to create some 4,000 jobs.  Already home to Amazon’s 2m sq ft Fulfilment Centre, occupiers can choose design and build packages for units to meet their specific requirements, and this speculative phase of development will satisfy those companies looking for space that is already under construction.

David Cullingford, Project Lead for Integra 61 and Citrus, said; “The funding will accelerate delivery of the next phase of development at Integra 61. 2022 is proving to be an exciting year with lots of activity on-site and we are looking forward to delivering these new speculative units as quickly as possible. We have a real opportunity here to make a significant contribution to the regional pipeline for industrial/logistics accommodation and to ease the well-documented shortages in the North East. This is a thriving region with a superb workforce and businesses and we hope to bring more jobs and opportunities with this next multi-million pound investment at Integra 61.”

Located at J61 of the A1(M), Integra 61 is just 4 miles away from the City of Durham and will also include circa 270 new homes, 70-bed hotel, family pub/restaurant, nursery, drive-thrus and a number of trade counter/roadside units all adding to the diverse offering.

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Integra 61 Integra 61, being delivered by Citrus Durham, is the largest logistics and manufacturing opportunity in the North East in a generation, with outline planning consent in place for over 3m sq ft of employment space at J61 of the A1(M). The total estimated investment value on completion is circa £300m and the 205 acre site has the potential to create some 4,000 new jobs and inject over £2bn to the regional economy over 10 years. The pioneering development will comprise a highly sustainable mix of uses incorporating: 3m sq ft of industrial and logistics accommodation, circa 270 new homes and 80,000 sq ft of prime roadside uses including, drive-thru’s, a 70 bed hotel, family pub/restaurant, nursery, car showrooms, self storage and trade counter/retail uses at the gateway to the site. Citrus Group Citrus Durham is part of the Citrus Group, a dynamic and entrepreneurial real estate investment and development company with diverse interests, from commercial and residential development to real estate investment with value-add opportunities and strategic property asset management. The Group has a longstanding and credible track record of building sustainable, long-term business relationships with its private and public sector partners and considers these among its most important assets. By building on this strong foundation, it has developed significant interests across various sectors.

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