Leeds-based Dove Haigh Phillips (DHP) has brokered a deal at the 65-acre Durham Lane Industrial Park at Eaglescliffe in Teesside.
Packaging recovery firm Returnable Packaging Services (RPS) Ltd has bought five acres of prime development land for an undisclosed sum.
RPS, currently located at Maltby on Teesside, will build a new industrial facility on site.
Gary Hudson, the managing director of RPS said: “We are pleased to announce the expansion of our operating facilities on Teesside. Having increased the number of our customers from international retailers to national waste management companies, we had outgrown the current headquarters.
“Wanting to remain within the Teesside area, RPS began looking for a site to build a purpose built facility. The site will help RPS expand current operations, accept greater volumes of pallets for re-use and increase the number of full-time employees.
“The purchase of the land was completed recently and planning approval was granted by Stockton Borough Council ready for work to commence at the new site. We intend to have the works completed and be fully operational by October this year.”
Durham Lane, which is currently zoned for industrial and warehousing development, is owned by property investment company Hansteen Holdings plc.
Simon Dove, partner with DHP, explained: “This is an excellent deal for all parties. It is a resounding endorsement of Durham Lane as a development site.”