A North East-based industrial property firm is closing in on a record year of transactions, and is set to grow further after recruiting a prominent name in the industry.
Richard Scott has joined Newcastle-based HTA Real Estate as a director, following senior roles with firms including Savills, Cushman & Wakefield and Sanderson Weatherall.
He is now working alongside HTA Real Estate founders Nick Atkinson and Simon Hill, together with Douglas Cranston who recently joined the firm as investment director.
HTA Real Estate was launched in 2013. In the past year it has handled more than 875,000 sq ft of industrial property deals, including the 139,000 sq ft letting to JATCO at IAMP on behalf of Sunderland City Council.
At Greenbox in Darlington, HTA Real Estate recently brokered a 107,775 sq ft letting to Wolseley Group on behalf of developer Citivale, with further new units of 84,947 sq ft and 215,362 sq ft available for lease.
Richard Scott believes that, although there are economic challenges, the delivery of industrial developments such as Greenbox, IAMP and Turbine Business Park are vital to provide much needed new supply and support the growth of the regional economy.
He said: “Economic factors such as the increase in the rate of employers’ National Insurance Contributions has led to some companies putting potential expansion plans on hold and the Trump tariffs are also creating some uncertainty in the global financial markets which hinder investment decisions.
“Despite these headwinds, the industrial sector remains the strongest of the commercial property markets with healthy levels of demand for good quality stock.
“There continues to be a shortage of supply across almost all size ranges, so new development is essential to accommodate the requirements of expanding businesses in the region and companies looking to invest here. I am very pleased to be joining HTA Real Estate, which boasts an excellent reputation and a very strong instruction book.”
Director Simon Hill added: “We have had an excellent year so far and we are on course for a record year of deals in 2025. Richard is a very highly regarded operator and will play an instrumental role in the growth of the firm in the years ahead. We are delighted to bring him onboard.”
