Aker Kvaerner Business Partner has signed the biggest-ever prelet in the Tees Valley
The engineering and construction services company has taken 61,376 sq ft (5,701 sq m) at Rokeby Developments Northern’s Surtees Business Park on Bowesfield Lane in Stockton. It has signed a 10-year lease at a rent of around £15/sq ft (£161.46/sq m).
The previous biggest letting in the area was 54,000 sq ft (5,016 sq m) to Barclaycard in 1997 at Teesdale Business Park.
Dave Ley, president and managing director of Aker Kvaerner, said: ‘Aker Kvaerner is committed to ensuring the move benefits both our employees and clients. This investment underlines Aker Kvaerner’s intent to remain in the area in the long term.’
Rokeby has planning consent to build up to 70,256 sq ft (6,526 sq m) of office space at the park. The surplus space will be developed as and when Aker Kvaerner needs additional space.