• Thu. Jun 20th, 2024

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Entrepreneur Invests £1.5m to Regenerate a Tyneside Town

Screen Shot 2015-07-13 at 11.16.13A Newcastle entrepreneur has purchased a large retail unit in a bid to regenerate a Tyneside town.

Ian Shanks, who part owns family business Blueline Taxi’s, has acquired a further four retail units in Wallsend’s High Street West, adding to the growing list of properties in his portfolio.

Assisted by property agents and chartered surveyors Bradley Hall, the sale has been completed for £400,000. Ian Shanks and his family have invested over £1.5million in the high street to encourage business in his home town.

Blueline taxis has created over 700 jobs in the North East, including drivers and office based staff. This success is set to continue with the redevelopment of local business opportunities and encouragement of the North Tyneside economy thanks to the investment.

The four properties will provide 7,483 sq ft in space, including a largest space of 3,522 sq ft and three units at just over 1,300 sq ft each.

Mr Shanks, who has played an integral part in the development of 17 commercial and residential properties in the high street, said: “I want to bring the life back into Wallsend by providing high standard commercial properties for local businesses and national and international brands. We have a history of improving spaces to a high standard to provide tenants with a clean, professional and aesthetically pleasing environment.

“I was born and raised in Wallsend, Blueline Taxi’s was created and grown here, this is a great place to live and I want to create shopping and socialising opportunities for the people of Wallsend and the surrounding communities.

“Tenants will be in good company, with surrounding stores occupied by popular retailers and household names Peacocks, Superdrug and Iceland.”

Neil Hart, director at Bradley Hall said: “We have worked in partnership with Mr Shanks on a number of properties in Wallsend as part of his vision to create a once again bustling high street.

“We are supportive of the decision to invest in this area as we feel it has a high potential to be successfully redeveloped and attract a number of commercial tenants who will ultimately provide places to socialise, shop and work for the people of Wallsend.”

By admin