The visit is part of UK Land Estates’ and Gateshead Council’s wider celebrations marking the 75th anniversary of Team Valley Trading Estate. His Royal Highness unveiled a commemorative plaque at the head office of UK Land Estates, to mark the occasion.



Originally opened by King George VI and Queen Elizabeth, Team Valley was the first purpose-built industrial estate in Britain. Established in May 1936, it is now the oldest business park in the UK and home to over 700 businesses employing around 20,000 people.

Lord Lieutenant of Tyne and Wear, Nigel Sherlock OBE, greeted His Royal Highness and accompanied him as he met representatives from UK Land Estates and Gateshead Council, including the Mayor of Gateshead, as well as a number of people representing businesses based on Team Valley.

Mayor of Gateshead, Cllr Joe Mitchinson said: “The Team Valley was a real pioneering development when it was created in the 1930s as a direct attempt to provide employment for local people. It has done that ever since and has become a vital part of modern Gateshead.”



UK Land Estates owns the freehold of Team Valley through a partnership with the Homes and Communities Agency, and, for the past 20 years, has developed and refurbished commercial property on the site. Now, through its new joint venture with property fund manager, Highcross, the companies have significant opportunity to pool their extensive asset management and marketing experience to maximise the potential of this substantial landholding. This will also enable the company to forge ahead with new development plans for Team Valley over the coming months.



Assistant Chief Executive of Gateshead Council, Jane Robinson, said: “Team Valley Trading Estate is a major part of the region’s economy, exactly as was intended when it was conceived 75 years ago. In that time it has changed massively, there are items produced here today that could not have been even imagined back in 1936.



“The sheer variety of businesses based at Team Valley is amazing; everything is made here from components for Formula One cars to food and even bank notes. There is virtually no part of our everyday life that is not touched by something linked to Team Valley.”



To celebrate its 75th anniversary, UK Land Estates has teamed up with Gateshead Council to run a series of events to mark its history and acknowledge its ongoing contribution to the local economy. A website has also been launched for more information and to profile some of the businesses located there at www.team-valley.com