Lettings double at the Wilton Centre in Redcar

Investment in facilities has led to a surge in signings at a Teesside business and science park.

In the past year, lettings figures at the Wilton Centre have doubled and occupancy is now at 70% - up from 57% in 2011.

The 500,000sq ft centre - known locally as the Wilton Hilton - was based on the former ICI headquarters. The firm sold it for an undisclosed sum in 1999 and occupancy in recent years had plummeted.

But site director Steve Duffield said improvements during 2014 - including a suite of high quality conference and meeting rooms - had “added significantly” to the attraction of the Centre, as a location for business office space, as well as its reputation as a world-class science park.

He said: “We took a long term view when the economy was less robust, that it was worthwhile investing in the premises to sow the seeds for future growth in lettings when things started to improve again.

“Last year’s figures show that this was a prudent approach to take. The buzz is certainly back at the Wilton Centre.”

In the past few months the Wilton Centre has signed leases with a number of new businesses and had significant existing tenants renewing their presence.

In September 2014 life sciences company Absolute Antibody, which is developing next generation engineered antibodies, relocated its laboratory and office operations from Oxfordshire to the Centre and expanded its business at the same time.

Earlier in the year Whiterock Executive Limited, a fast-growing national executive recruitment agency headquartered in Leeds, opened a North-east office that had almost doubled in size to employ 5 staff by the end of 2014.

And in December Manchester-based process engineering specialist Haden Freeman also launched a regional office employing seven at the Centre, which it plans to treble in size within seven years.

Steve added: “Signings were very healthy last year. And a with a number of new businesses having taken up new space already this year, and a big relocation on the horizon in the next few weeks, we are cautiously optimistic things will be even better in 2015.”

During 2014 the centre has revamped its Lakeside restaurant and coffee shop, launched a state-of-the art gym for tenant employees.

Wilton Centre’s commercial property agent, Stephen Brown, Partner at Dodds Brown, said: “The demand reflects both the quality of the office accommodation and the excellent facilities and environment at the Wilton Centre.”