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Gateshead Quay Project Promoters: Gateshead Ask Real Estate PATRIZIA Scale: Quays £250m+ GDV Sector: Opportunity Leisure, Retail and Commercial The promoters for this project, Ask Real Estate and leading investment and development manager Location: PATRIZIA UK, working collaboratively with Gateshead Quayside Gateshead Council who are providing a lease Investment Type: guarantee for the project income, are seeking Development Funding investment up to £220m which could take the form of project funding, forward funding, equity and Programme: co-investment amongst others. 2020 Planning Status: With over one million visitors each year, Gateshead Planning policy in place with Quays is one of the UK's most iconic waterfront detailed planning expected in locations. The area has seen huge transformation mid-2019 over the last 15 years and is now a thriving cultural destination, home to many world-class attractions. Overview Background Project Description The development site sits on the River Situated on a 4 hectare site overlooking Tyne directly across from the city of the River Tyne, the Gateshead Quays Newcastle and is connected by the development offers an opportunity to award-winning Gateshead Millennium invest in a truly world class development Bridge (the world's first and only tilting in a district with a global reputation for its bridge). The site nestles between the cultural and leisure offer. The develop- region’s most iconic suite of buildings, ment site is truly in a unique location Sage Gateshead and BALTIC Centre for which will offer visitors a whole new Contemporary Art. The proposed project experience. includes a new arena, conference and exhibition centre, two hotels, bars and The new entertainment, conferencing and restaurants will create a vibrant new exhibition facilities, standing shoulder to entertainment and leisure destination on shoulder with Sage Gateshead and Baltic, will the waterfront, within easy access to the cement the cultural and leisure offer at Quays, Gateshead Town Centre, Gateshead on a global scale. Newcastle City Centre and the wider region. The site is well supported by Key points are as follows: transport links with regional, national and international connectivity through • 4 hectares fully assembled site in single Newcastle International Airport. land ownership • 350 new hotel rooms in 2 buildings The location and size of this development • Over 48,000 sq. m of leisure space to will support inward investment into the include a 12,500 seat arena region, boosting growth for the area, • 3,800 sq. m of prime retail space delivering over 48,000 sq. m of leisure space and 2 hotels offering 350 rooms of 3 Project Promoter and Partnerships and 4 star accommodation once completed. The development will also offer 3,800 sq. m The project promoters for this site are of retail floor space. The project is also Ask Real Estate and PATRIZIA UK who expected to add over 1,000 jobs and £29 have formed a joint venture and together million GVA per annum to the local and bring a very well-established design and regional economy and benefits from the build team with a proven track record of ability to connect directly to a low carbon delivering similar size schemes. This district energy network. project has also been supported by the Local Enterprise Partnership. Gateshead Council are the local authority who are responsible for the planning within this area. The project is also located within The Northern Powerhouse Region..
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