Newspaper article The Journal (Newcastle, England)

'Landmark Day' for City as Site Is Sold; Tesco Strikes a Deal with One North East

Newspaper article The Journal (Newcastle, England)

'Landmark Day' for City as Site Is Sold; Tesco Strikes a Deal with One North East

Article excerpt

Byline: Peter McCusker

SUPERMARKET giant Tesco has agreed to sell the former Vaux brewery site in Sunderland city centre to One North East so it can be redeveloped as a business district.

And Sunderland regeneration chiefs last night said they remain confident the purchase will proceed, even if the regional development agency is wound up before the deal is finalised.

The Journal reported last week that Tesco had opted to develop a new superstore on the north of the city at the Sunderland Retail Park.

This meant the Vaux site, which has been in the supermarket giant's hands for almost 10 years, would be free for redevelopment in line with the plans created by Sunderland regeneration bodies.

The 28-hectare site in the centre of Sunderland which had been home to Vaux Breweries for 162 years has been earmarked for development as a new business district.

Leader of Sunderland City Council, Councillor Paul Watson said: "I am pleased to announce that Tesco has signed an agreement in principle to transfer ownership of the Vaux site to One North East.

"This is a significant step forward in the redevelopment of this key strategic site. It has been achieved as a result of lengthy but very productive negotiations between the city council, its partners and Tesco. The development of the site is still some way off and it's vital for Sunderland's future prosperity that we get it right.

"I am confident that I can rely on all elected members in Sunderland City Council to continue to give their commitment and support the re-development of the Vaux site, for the benefit of the whole city and region." The plans for the site, which has been cleared of the former brewery buildings, are to develop a business district which could host more than 3,000 workers with particular emphasis on attracting the low carbon, digital and innovation industries. …

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