Colliers International has been instructed to market for sale a 370,000 sq ft manufacturing facility near Newcastle-upon-Tyne on behalf of global beauty manufacturer, Coty Inc.
The site, which is occupied by Coty Inc, is located in Seaton Delaval and used to manufacture beauty products and fragrances. The site will close in October 2018 with Colliers International instructed to seek a buyer who can position the site for future employment use.
Simon Hill, Associate Director, Industrial & Logistics for Colliers International in the North East, said: “The Coty factory has been a major employer for the Seaton Delaval area for a number of years and as such the closure will have a significant impact on the community as a whole. We have been instructed to seek a buyer for the site which can bring employment opportunities back to the area.”
“The sale offers a unique opportunity for a purchaser to acquire a high-quality property that is suitable for a wide variety of uses, in particular manufacturing and distribution. We look forward to speaking to potential purchasers.”
Colliers’ instruction also includes the sale of similar facilities in Ireland and Germany.
Coty is one of the world’s leading beauty companies, with an iconic portfolio of more than 77 brands across fragrances, colour cosmetics, hair care, body care and skin care. Following Coty’s merger with P&G Speciality Beauty in 2016, Coty underwent a detailed study of its expanded global manufacturing capacities and capabilities in order to enable its future growth plans. As a result, Coty Inc is consolidating its fragrance operations into fewer core centres.