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SABIC Signs 15-year Lease at Teesside Science Park

SABIC Signs 15-year Lease at Teesside Science Park

A 15-year commitment has been made by SABIC to 29,000 sq. ft. of office space located at the Teesside science park at the Wilton Centre. SABIC is one of the largest manufacturers of petrochemicals around the world and it is great news for the north east industrial area that they have committed to having a base at the science park for the next decade and a half.

The manufacturer has committed to the new office lease after successfully completing a multi-million-pound upgrade which has been carried out on their Olefins 6 plant, more commonly known as The Cracker. This upgrade has taken place on a neighbouring Wilton International site. The work took place earlier this year and has secured the jobs of the 600 employees that work for the manufacturer in the Teesside area.

The deal will see SABIC stay on the 75-acre science and business park, with the news of this lease following the lettings of 40,000 sq. ft. of office and training space to The Faraday Training Group, the International electrical safety training provider. 15,000 sq. ft. of space at the Teesside Park has also been let in office and laboratory space to FUJIFILM Diosynth Biotechnologies. This company is a world leading developer and manufacturer of biologics-based medicines.

The lettings already agreed upon at the Wilton Centre means that 80% of the office, laboratory and plant space has now been let. For SABIC, The Wilton Centre at the Teesside Science Park is a perfect location and the recently let space will be used as the Headquarters for SABIC UK Petrochemicals Limited. The petrochemicals business has been an established operation at the Wilton Centre for more than 40 years under a range of different names. The business was established as SABIC in 2006. It is great to see the petrochemical business, regardless of the changes in name over the years, is committed to staying in Teesside.