Engineering Firm Set for North East Expansion at the Hive
Oracle Drives and Automation takes occupancy at The Hive at Wear House.
Oracle Drives and Automation, a specialist provider of control systems for industry, has taken 3,604 sq ft across three units at our latest Peterlee development, The Hive.
Since its purchase by Veruth Holdings in 2021, Oracle Drives and Automation has doubled its headcount from 8 to 16. The firm is set to house its growing North East team at The Hive, developing its reach across Europe and North America.
We recently transformed The Hive from 30,000 sq ft office space into hybrid units comprising light industrial space to the ground floor and office units to the upper floor. Our £1.8m investment adds to our ongoing development at Bracken Hill Business Park.
The Hive is a complementary development to Gemini Point, also located at Bracken Hill Business Park, where we have invested £3.5m in nine new-build industrial units. The Hive has been purposefully designed to provide incubator space for businesses looking to grow long-term at Bracken Hill.
The self-contained hybrid storage and office facility offers space from 991 sq ft to 3,393 sq ft with roller shutter doors and pedestrian access, dedicated loading parking and internal staircases to first floor offices with LED lighting.
John Mullins, Managing Director at Oracle Drives and Automation, commented: “Our new unit at The Hive allows us to bring our control panel manufacturing in-house, mitigating our reliance on subcontractors and giving us greater control over projects for our customers. We’re experiencing a strong growth period, expanding our service offering and developing our internal skillset to better serve our customers and I look forward to growing the business at The Hive.”
Tim Knowles, founder and Managing Director of FI Real Estate Management, commented: “The provision of high-quality commercial space is key in advancing the North East business community. Our investment at The Hive enables us to support hybrid businesses with the need for combined workshop and office space, allowing them to house their teams at one location. The North East has huge potential and we will continue to evolve our portfolio to meet the changing needs of local and regional businesses. I look forward to building our relationship with Oracle Drives and Automation and seeing the team thrive in their new unit.”