Smulders Group has bought its fabrication site on the River Tyne for an undisclosed fee in a move that aims to consolidate the offshore wind construction outfit’s long-term presence in the UK.
The company previously held the site on a short-term lease that was due to expire soon, but acquired the yard after its previous owners, Hadrian Industrial Holdings, listed it for sale with a £15m price tag.
The Wallsend yard includes 42,840 square metres of industrial, warehouse and accommodation buildings as well as a kilometre of waterfront.
It was recently used by Smulders for the partial construction and final assembly of 55 jackets (pictured) for Ocean Winds’ 950MW Moray East offshore wind farm off Scotland.
The sale of the site was brokered by global property advisor Avision Young who told reNEWS the final fee paid was “close to the asking price”.
“After an initial lengthy marketing campaign this unique site attracted a good level of interest from three parties focusing on the growing offshore and alternative energy sector,” said Avision Young’s Simon Beanland.
“The government’s recent announcement on the UK’s green energy plan and talk of a potential free port status in the region is thought to have focused buyer interest from both end users and investors.”
Danny Cramman of Avision Young said the site had proved attractive to buyers as it is “exceptionally well-placed to benefit from developments in the North Sea and within easy reach of key offshore energy locations such as Dogger Bank and Hornsea.”