THE lead developer at Teesdale Business Park, Terrace Hill, is continuing to create a business address among the most sought-after in the North-East.

A progress report from North-East director, Philip Leech, covers the development of another top-specification office building in St Mark's Basin, due to start on site next month.

It is to be built speculatively with the flexibility of design that will make it suitable for a wide number of possible end users, providing 10,000sq ft of air-conditioned accommodation plus 43 car parking spaces. It is scheduled for completion in November.

"It's been a very busy time for us over the last year", said Mr Leech. "The development of Teesdale is continuing apace which is a reflection of our confidence in the business park as a sought after business location.

"By the time we start work on the new Stockton and Billingham College in a couple of months, we will only have ten acres left to develop at Teesdale."

He said: "Rents have grown from under £10 per sq ft at the end of 1997 to £14.50 per sq ft at the present time. This kind of investment growth has enabled us to attract the first institutional investor to Teesdale from the South East."

A new building is due for hand-over at the end of the month. Endeavour House, a purpose-built headquarters building for social housing organisation, Endeavour Housing, has cost £1.4m and provides 11,500sq ft of accommodation over three floors.