Home » News » Tees Valley Combined Authority To Invest £3million In High-End Office Space Development
Tees Valley Combined Authority | Published on: 5th February 2018
Tees Valley Combined Authority today agreed to invest £3.23million to deliver top quality office accommodation in the region.
The Combined Authority’s Cabinet has agreed to match the funding of Darlington Borough Council for the £8.5million complex at Feethams in Darlington Town Centre alongside £2.04million from the European Regional Development Fund.
The new five-storey high building would provide high-class accommodation for small and medium enterprises across the Tees Valley in key sectors including business and professional services and in the digital and creative field. It will be located within walking distance of Darlington station and its vital East Coast Mainline rail services.
As well as providing quality workspace, the 3,900sq m site will aid in making Darlington more vibrant as businesses based at the development take advantage of the town centre’s cafes, bars, shops and facilities.
It will also contribute to the Tees Valley Strategic Economic Plan, which has a target to create 7,000 additional jobs in professional and office services.
Tees Valley Mayor Ben Houchen said: “If we are going to attract professional services firms to the area, then we need proper Grade A office space. At the moment they’re looking to Newcastle and Leeds, when really they should be basing staff in the Tees Valley.
“This extra financial boost today sends a strong signal to companies nationwide that they should base themselves in here, and is recognition of Darlington’s pull as an excellent location for such firms.”
Darlington Borough Council leader and Combined Authority Cabinet Member Bill Dixon said: “Thanks in part to its road and rail connections, Darlington is very attractive to businesses.
“To match the great location, we need to keep investing in top-quality premises that have everything that companies, especially those in the digital sector, need to make sure they stay in the area for years to come.
“This cash will help us continue to deliver that and keep Darlington and the wider region growing.”
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