Company pulls out of business park scheme

A multimillion-pound business park is being built in Chatterley Valley

An international company that was in talks to rent part of a newly developed business park in Staffordshire has withdrawn from the plans.

Talks with Newcastle Borough Council for advanced materials firm Lucideon to rent a proposed bespoke headquarters at Chatterley Valley business park have fallen through.

A Lucideon spokesperson said the decision was due to increasing costs, but the firm intended to stay in Staffordshire.

Lucideon, which has a site in Stone as well as three in the United States, was in talks to rent a bespoke HQ on a long-term basis.

A spokesperson from Lucideon said: “Due to a variety of factors outside of the control of Lucideon and the developer, which drove a very substantial increase in costs of over 30%, the site became simply uneconomic for the planned centre.

“Lucideon intends to stay in Staffordshire as we expand. We are continuing to explore opportunities for suitable sites to develop in the area.”