Newspaper article The Journal (Newcastle, England)

PS47m Plan to Develop Site near St James' Park; DEVELOPMENT

Newspaper article The Journal (Newcastle, England)

PS47m Plan to Develop Site near St James' Park; DEVELOPMENT

Article excerpt

Byline: COREENA FORD coreena.ford@ncjmedia.co.uk

AROUND 500 construction jobs could be created as part of a PS47m mixed-use development earmarked for land close to Newcastle United's St James' Park ground.

Gateshead-based Tolent Construction is poised to submit plans to Newcastle City Council for a fourbuilding development on the site adjacent to St James Metro station.

The multi-million pound development would see the creation of a hotel, 50 residential apartments, 700-bed student accommodation and shops, as well as surrounding landscaping.

And ahead of its submission to the council, Tolent - through the firm's property agents Newcastle-based ES Group - is seeking local views on the development plans through a consultation event outlining the site's potential future.

Nexus, Newcastle City Council and MGM Grand Newcastle Ltd, the new name for Newcastle United Holdings Ltd, all stand to benefit from the land deal.

The freehold is owned by Nexus but the site is held by way of a 125-year long lease in the name of Newcastle United Holdings Ltd, while the city council also owns a strip of land to the south of the site, extending to the back of the pavement.

Under the terms of the Newcastle City Deal, the council has secured the right to retain all business rate growth within the Accelerated Development Zone for 25 years and as this site forms part of this zone it would reap the financial benefit from the planned hotel development.

Helen Marks, planning consultant from ES Group, said: "The proposals include a hotel, flats, student accommodation and commercial floorspace, with landscaped public open spaces.

"We are inviting local residents to see and comment on the proposals before we submit the planning application to Newcastle City Council on behalf of our client Gatesheadbased Tolent Construction Limited. "The development, which is adjacent to St James's Metro station, will consist of four buildings including a tower of up to 24 storeys at the head of St James Boulevard. …

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