SUNDERLAND-based Highbridge Properties is understood to be front- runner in a contest to develop the Hadrian Business Park, North Tyneside, worth an estimated total of £100 million.
Sources close to the scheme say that Highbridge has headed off challenges from three rivals to develop the park, which is the largest enterprise zone in the UK. The choice of Highbridge as a preferred bidder means that work on the 38 ha project is on course to start in the New Year.
The Tyne and Wear Development Company, which owns the site, has drawn up plans comprising eight development plots, the largest of which could accommodate a 50,000 sq m factory.
The other competing developers are Easter Management, Silverlink and Akeler.