A successful North East company is poised for growth after securing the purchase of its headquarters at Bowesfield Park in Stockton-on-Tees from regional employer Banks Property.
Colewood has bought the 7,200 sq ft Kingfisher Court building, which houses its two businesses – Colewood Digital and Colewood Automotive.
Founded in 1999, Colewood Digital offers a range of digital marketing services, including search engine optimisation, email marketing, social and pay per click management, while Colewood Automotive builds and operates some of the largest ecommerce tyre websites in the UK, including Asda Tyres, etyres and RAC tyres.
Colewood originally relocated its headquarters to Bowesfield Park in 2016, which was created by Banks Property as a unique, fully integrated mixed-use scheme with substantial wildlife habitats and recreational areas sitting alongside commercial and residential spaces.
Bowesfield Park also houses a number of other commercial occupants including Archers’ Law, Audi, Lexus, Toyota, Erimus Insurance Brokers, Anderson Barrowcliff LLP, the Kids First Bowesfield nursery and Erimus Insurance.
Travis Coleman, Group CEO of Colewood, says: “We are all very excited to have the opportunity to purchase our building. We have managed to successfully navigate the troubled waters of Covid, with positive year on year growth in spite of the challenging times.
“We have been on an ambitious growth profile for some time now and being able to expand out into the full building will allow us to recruit and grow in comfort.”
Jonathan Cooke, commercial manager at The Banks Group, adds: “Colewood has made very impressive progress since moving to Bowesfield Park five years ago and we’re very pleased to have concluded a deal with a successful business that is keen to keep investing and creating jobs in the Tees Valley.
“Bowesfield Park’s proximity to Thornaby, Stockton, Darlington and Middlesbrough, its excellent transport links and the huge appeal of its highly-valued nature reserve all combine to make it a great place to both live and work.”