Battleships to Oil Pipes: UK's Newcastle in Manufacturing Revival

"We're in the energy industry now and we know that," he added.

The jobs are much needed with England's North East having the highest rate of unemployment in the UK, above 10 percent, compared with around 7 percent for the country as a whole.

Two local brothers, Freddy and Bruce Shepherd, are behind the revival of this part of the river through their company Shepherd Offshore which owns, develops and operates the land.

For Freddy Shepherd, best known as a former chairman of local soccer club Newcastle United, it is a personal as well as a financial endeavour. In his youth he worked as an apprentice with oil major BP on the same river bank.

"We do the funding ourselves which appeals to the manufacturers ... It's really family orientated so we're always looking 30 years ahead," he told Reuters.

The Shepherds say they have invested 100 million pounds into the site since acquiring the first bit of land in 1987.

Bruce Shepherd is keen to stress the developments are complementary to the oil supply chain in Aberdeen, but adds industrial property in Newcastle is five times cheaper than in Aberdeen.