International Firm Withdraws from Staffordshire Business Park Project

An international firm that had been negotiating to lease a section of a recently developed business park in Staffordshire has withdrawn from the project. Discussions between advanced materials company Lucideon and Newcastle Borough Council, concerning a planned custom-built headquarters at Chatterley Valley business park, have concluded unsuccessfully. A spokesperson for Lucideon stated that the decision was prompted by escalating costs, though the company affirmed its intention to remain based in Staffordshire. Lucideon, which operates a facility in Stone in addition to three sites located in the United States, had been engaged in discussions to secure a bespoke headquarters under a long-term agreement. 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.”