A Yorkshire-based property group has completed a new property deal as part of its mission to “breathe new life” into the North.
Almscliffe-Dhesi Investments Ltd, part of the Almscliffe-Dhesi Group, has converted a
former social club in County Durham into a new Toolstation store.
Situated on Ritson Street in Stanley, the 4,500 sq ft development at the site of the former Stanley Central Club has been sold to a private investor for £525k. Toolstation has now taken a 10-year lease with a six-year break on the site.
Neil Creeney, who owns and runs Almscliffe-Dhesi with his business partner Bal Singh,
commented: “We are absolutely delighted to have completed this property deal. This deal is an excellent example of the commercial property business blueprint that we want to follow.
“This blueprint involves locating a vacant visible, roadside site, preferably in Yorkshire, the North East or Humberside, and obtaining planning permission to develop it for retail and roadside uses.
“In this instance, we selected the former social club site because it was prominently
positioned in Stanley next to a new McDonalds and an Aldi and Asda.”
He added: “Our developments will breathe new life into vacant brownfield sites and provide much-needed new facilities and jobs for towns such as Stanley. This chimes in with the Government’s levelling up agenda for the north, which aims to invest in northern towns who have previously been left behind.
“We have a number of other similar projects in the pipeline, in Stanley itself and also in
Middlesbrough, Sunderland, Darlington, Washington (Tyne and Wear) and Scunthorpe.
These are at various stages in the development process.”
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