THE former Cleveland Bridge site is set to be turned into a new industrial park.
The 370,000 sq ft site in Yarm Road has been acquired by commercial property investor Adhan Group.
Cleveland Bridge closed in September after a global search by a team of administrators from FRP failed to find a buyer willing to take on a £21million mountain of debt and turn the business around.
An auction to sell of its assets took place last month.
Read more: Inside Darlington's Cleveland Bridge as assets go under auction
The Adhan Group said it planned to start an “extensive refurbishment” programme for the 30 acre site.
The site will be split the site into smaller sub-units to create an industrial park for businesses.
The transaction comes as the joint administrators of Cleveland Bridge UK Limited continue the asset and property sale process of the former bridge manufacturing business.
Salim Patel, chief executive of the Adhan Group, said: “The site on Yarm Road is really well placed with great connections to major infrastructure. It is an ideal property for us and has great potential to be refurbished.
Read more: What went wrong at Darlington Cleveland Bridge
“We’re committed to bringing this whole site back to life and to developing quality, multi-let industrial space that will support the growth of local businesses.”
Martyn Pullin, partner at FRP and joint administrator of Cleveland Bridge UK Limited, said: “We are pleased that the former Cleveland Bridge plant has the opportunity for a positive future and wish the team at Adhan Group all the best with its plans to transform the site.”
Darlington MP Peter Gibson said: "Whilst the demise of Cleveland Bridge was a body blow to us I am pleased to see the site sold which will hopefully see new jobs and new industry on the site, increasing the range of employment opportunities for people In Darlington as we build back better and level up."
Heather Scott, leader of Darlington Borough Council, said: "It's very good news. The worst thing that could have happened was for the site to have been left vacant.
"It's important we have got a business that is interested in taking it over.
"Obviously the whole thing has been very distressing for everyone but we have got to move on and make the best of it."
Tees Valley Mayor Ben Houchen said: “News that a buyer couldn’t be found for Cleveland Bridge was obviously devastating and marked the end of an era for a firm that produced some of the world’s biggest structures.
“I’m pleased to hear, though, that the site will now be reborn, not left to ruin, and it’s great to hear of another investor believing in the future of Teesside, Darlington and Hartlepool. This will breathe new life into the company’s former location, attracting many businesses and other investors, while creating good-quality jobs for local people.”
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