Posted on: 22 February 2021
The regeneration of the North East’s largest city
Newcastle-Upon-Tyne is one of the largest cities in the UK outside of London and is known as one of the Core Cities in the UK. Newcastle and the surrounding area is well known for its famous landmarks, such as the Tyne Bridge, the Millennium Bridge, the Baltic Centre for Contemporary Art and the Angel of the North amongst others.
Newcastle is part of the Northern Powerhouse project, the government initiative to get cities in the North of England more connected, with solid transport links, highly skilled workers and world-renowned leadership.
Here are some of the construction projects coming up in this great northern city.
The construction projects developing Newcastle-Upon-Tyne
An area of land between the Baltic Centre for Contemporary Art and the Sage Gateshead concert venue will be home to the new £260 million Quayside Arena complex, complete with a 12,500 capacity arena, hotel and exhibition centre. Post-COVID-19, it is expected that there will be 400,000 visitors to the complex a year, bringing in around £60m into the local economy.
The project has been controversial with some of the residents of Gateshead, but construction has already begun, with the car park estimated to be completed by 2022, and the arena expected to be completed by 2023.
The Whey Aye
In 2019, Newcastle City Council approved plans for Europe’s biggest observation wheel to be built on the Newcastle side of the River Tyne. The observation wheel, whose name is a play on the London Eye but with some Geordie slang thrown in, will be part of a wider complex featuring a 39ft statue, known as the Geordie Giant, a virtual golf club and a family entertainment complex.
The complex will be on the old Spiller’s Flour Mill site and is set to cost around £100 million.
Newcastle City Council has hailed the Science Central regeneration development as one of the biggest in the city’s history. The City Council and Newcastle University are working in collaboration to create a science and innovation hub with buildings already in place, such as The Biosphere, The Lumen and the Urban Sciences Building.
The site will also be adding The Hotel, The Spark and The Garage. The Hotel, a Moxy Hotel (part of the Marriott brand) will provide 200 beds, The Spark will be a 12-floor office building, comprising of a 106,000sq ft working space, and The Garage will bring more than 540 parking spaces, fast-charging electric car points and bicycle storage space, all in one sustainable transport hub.
This £120 million project will bring a hotel, office building and flats into Newcastle city centre, but the project has not been so popular with local residents.
The project will be on a site next to St. James’ Park, the home of Newcastle Football Club, one of the most iconic features of Newcastle’s City Centre. The Strawberry Place project will not only obscure views of the stadium but will also restrict any future development of St. James’ Park.
Insurance with Premierline
The construction industry will become more interesting and exciting in the coming years with major investments in UK infrastructure up and down the country. However, the industry also carries risk which is why it’s essential to consider insurance if you are a tradesman or a contractor.
Premierline is a business insurance broker with a wealth of experience in arranging commercial and industrial insurance as well as contractor insurance and contractors all risks insurance for businesses across the UK. Our business insurance experts will assess your business’ needs and will work with some of the UK’s most well-known insurance companies to source the right insurance package that protects your business and your livelihood. Get in touch with one of our insurance advisors today to discuss your insurance requirements.
The information and tools contained in this guide are of a general informational nature and should not be relied upon as being suitable for any specific set of circumstances. We have used reasonable endeavours to ensure the accuracy and completeness of the contents but the information and tools do not constitute professional advice and must not be relied upon as such. To the extent permitted by law, we do not accept responsibility for any loss which may arise from reliance on the information or tools in our Insight Hub.