Imagine my surprise yesterday when North East-based property tycoon David Abrahams (pictured) told me that Durham Green, the business park scheme in County Durham which he is currently selling, could eventually contain a whopping 75m sq ft of commercial space.
Abrahams, who achieved a degree of fame as the man who sparked the government's 2007 'donorgate' scandal, is in the process of selling the 540-acre site in County Durham to First Industrial Developments, the company formed by a group of ex-Prologis directors last year. (EGi subscribers can read the full story here).
First Industrial say the first 75-acre phase of the project is likely to comprise a somewhat more conservative 1.3m sq ft of industrial and office space, rather than the 8m sq ft-plus suggested by Abrahams. The entire project, believe First Industrial would only just get above that at a more realistic 10m sq ft.
By contrast phase two of Prologis' DIRFT development will be 2m sq ft.
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