Rapidly expanding Yorkshire-based property company Almscliffe-Dhesi Group (ADG) has sold a prominent retail development in Stanley, Co Durham for £2.625 million.
ADG has transformed the brownfield site in Agnes Street into a popular roadside destination with national occupiers Starbucks, Greggs and Domino’s. also included are 4 electric vehicle charging points provided by Osprey.
The development has been sold to a private investor.
Domino’s, Greggs and Osprey are already trading, while Starbucks are currently fitting out and plan to be open on March 9.
Neil Creeney, who owns and runs Almcliffe Dhesi Group with his business partner Bal Singh, commented: “We are delighted to have sold our new development in Stanley and proud that we have been able to attract some of the most recognisable national retail names in the UK.
“This development is an excellent example of our blueprint of breathing new life into vacant brownfield sites and providing much-needed new facilities and jobs for North East towns such as Stanley.
Meanwhile ADG’s 6,200 sq ft retail drive-thru’ development by the SG Petch car dealership on the A66 in Middlesbrough has been completed. High-profile occupiers Burger King and Taco Bell are now open, while Greggs will be fitting out shortly and Osprey is providing EV charging points, as in Stanley.
The £3.5 million scheme was funded by Wordie Properties Limited, a Glasgow-based property company.
Neil commented: “This development is a resounding success and a significant addition to Middlesbrough’s retail offering in an excellent location.”
Charles Wordie of Wordie Properties commented: “We are hugely enthusiastic about this development, particularly given its location and proximity to Teesworks the UK’s largest Freeport. The regeneration of this area of Teesside is significant and to be a small part of it is very exciting.”
Finally, ADG has now finished work on transforming a vacant car dealership site in Washington, Tyne and Wear, into a retail and trade destination. The 13,400 sq ft development has been sold to a private investor for £2.275m.
The development, which is situated off Parsons Road near the A182 Washington Highway, has created more than 30 full-time and part time jobs. It is fully let to high-profile retailers Franks Flooring, Toolstation, Angling Direct Greggs.and Fastned, who are providing eight electric vehicles super chargers.
Neil and Bal Singh formed ADG in 2019. Neil previously worked for well-known Yorkshire developers Opus North and S Harrison Developments, while Bal owned a string of successful pharmacies in the North East.
Bal Singh commented: “These three successful developments in the North East has given us the confidence that our business model is the correct one, attracting popular national retailers to regenerated brownfield and creating new and sustainable jobs.
“Do please contact us on bal.singh@almscliffedhesigroup.co.uk you feel you have a development opportunity which fits this model.”
