Seaham’s Spectrum business park is halfway there.
One half of the site is now occupied, after cost management firm Great Annual Savings Group (GAS) took an extra 6,803 sq ft of space in Spectrum 6 to cope with a period of rapid expansion.
GAS has now expanded into the south wing of the building, which is now fully occupied with business services specialist BE Group taking the whole of the second floor and County Durham Housing Group occupying the first floor.
The move means that half of the park is now fully occupied, with Spectrum 8 and the ground floor of Spectrum 7 also fully let and Spectrum 3 now under offer.
Developer Paul Wellstead said: “Seaham has been transformed beyond recognition due to significant investments from a whole host of companies.
“Spectrum has been a major part of that and companies such as Great Annual Savings Group have benefited from relocating here.
“The park is ideally situated near main transport links and I’m confident that we can attract other companies here.
“We’re already in discussions with several interested suitors. Spectrum 3 is currently under offer and Great Annual Savings Group has expressed an interest in taking up further space as it continues with its expansion plans.”
GAS has embarked on an aggressive growth strategy and recently created several senior positions to be filled in the next three months – including a head of international to oversee the roll-out of its global growth strategy.
The company is on track to recruit another 30-40 staff by the end of this year, with the ultimate goal to increase headcount to 150 in 2016 – a year ahead of target.
Chief executive Bradley Groves said: “We located to Spectrum because we wanted to be part of the regeneration of Seaham. “We are in early discussions about taking another building on the site.”