The latest proposals for a significant regeneration scheme in Newcastle, being brought forward by David and Simon Reuben’s Taras Properties, have been released for public consultation this week.
The 14 storey Bank House project will incorporate 10,000 sq ft of high quality office space potentially employing 1,200 people, plus ground floor retail space and public realm improvements.
Bank House is the first stage of a three phase plan to regenerate the East Pilgrim Street area by providing what is referred to as an ‘impressive new gateway’ to the city. The scheme will be a catalyst for other mixed use development projects in the area where there could ultimately be 600,000 sq ft of mixed use retail and leisure space plus residential.
GVA are providing commercial and project management advice and Gordon Hewling, Regional Senior Director, GVA comments: “This exciting proposal to create a new landmark office building on the Bank of England site is another step towards transforming East Pilgrim Street, which will enhance Newcastle City Centre’s attractiveness as both a leisure and business destination.”
The project is the largest such regeneration scheme in Newcastle in several years. Some will see it as a small but quite significant vote of confidence by the Reubens in the UK regional market.