A Seaton Delaval factory site which is earmarked for closure later this year is being sold.
Colliers International has been instructed to market for sale the 370,000 sq ft Coty Inc manufacturing facility.
The site, which is used to manufacture beauty products and fragrances, will close in October 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.”
Following a merger with P&G in 2016, it was decided that Coty Inc would consolidating its fragrance operations into fewer core centres.