Work started in 2009 to transform the old Swan Hunters shipyard into a high tech business & enterprise Park is now reaching its latest stage.
Over the years since 2009 North Tyneside council carried out work to repair the quay, upgrade access roads, install electricity, and drainage and water to the iconic ship building site.
Part of the site was sold in 2013, then in 2014 the site received classification as an enterprise zone which allowed investors on the site to be eligible for enhanced capital allowances providing opportunities to access millions of pounds, to support their move to the enterprise zone.
Following assessment of offers Shepherd Offshore LTD was selected as the preferred buyer with the sale completed in December 2020.
Shepherd Offshore will now work to bring forward redevelopment of the site as Swans Energy Park and attract other businesses in the offshore, subsea, marine and energy sectors to locate at the site.