We’re proud to introduce our new owners today – Clearbell – who will continue to build on the success of the site as a regional mixed use hub.
The new owner is a fund managed by Clearbell, an independently owned private equity real estate fund management and advisory business, specialising in UK property investment, development and asset management.
Previous owner, Marchday, had taken Lingfield Point from a disused, semi-derelict factory to one of the most sought-after business postcodes in the region – and won recognition for best practice in property management and a number of national awards including the prestigious British Council of Offices ‘Test of Time’ Award for Memphis.
The combined businesses based at Lingfield Point employ more than 2,500 people who enjoy a wide range of facilities – from the on site ‘canteen’ bistro to the Little Lingfields child care nursery and a packed programme of events. Over 50 businesses have been made to feel at home with start-up office space available from 270sqft through to huge offices to house global giants AMEC, specialist care home providers – Four Seasons Health Care and Student Loans Company.
Marchday bought Lingfield Point in 1998 and has since invested millions of pounds in sympathetically upgrading the office space to reflect its history as the world’s largest wool factory, Patons and Baldwins. The company had ambitious plans for Lingfield Point and over the years saw them come to fruition.
Now, having set it well on its way to regenerating the mixed use scheme, it was felt the time was right to sell. Marchday Director John Orchard, said: “Lingfield Point is a really special place and we wanted everything to be just right – not a pale reflection of our initial aspirations – and I can honestly say we have achieved that. Last year also saw the opening of the first new homes at Lingfield Point, which was the fulfilment of our ambition of turning the clock back to people living on site again as they did in the heyday of Patons and Baldwins. It has been part of our lives for so long that this was not an easy decision to make – however, it is the right one. It is time to pass on the baton.”
The sale will see Clearbell pick up that baton – and take the site to the next phase of the masterplan. Dominic Moore, Clearbell’s Asset Management Director, will lead the management of Lingfield Point with the existing on-site team.
Dominic said: “The unique personality of Lingfield Point is one of the things that make it such an interesting addition to Clearbell’s portfolio – and the aim is to ensure that it not only remains intact but is also built upon.
”Clearbell will continue the creativity around the 90-acre site and hopes that, with ongoing investment, Lingfield Point will become a flagship for successful regeneration in the North East – continuing to position Darlington as a great base for business.
“There will be no fundamental changes – the same onsite team will ensure the outstanding service standard is maintained and delivered with Lingfield Point’s typical flourish of creativity and quirkiness.”
We hope you will join us in welcoming our new colleagues to our wonderful world of Lingfield Point.
Fancy a natter on your office or industrial needs for your business? Pick up the phone and we’ll pop the kettle on.