The city’s golden tri­an­gle


The Chronicle - - News - By LAURA HILL Re­porter Laura.Hill@trin­i­tymir­ @lau­rahill­news

RECLU­SIVE bil­lion­aire brothers hold the key to the re­de­vel­op­ment of one of the most cru­cial city cen­tre re­vamps in the North of Eng­land.

The for­mer po­lice sta­tion on New­cas­tle’s Pilgrim Street and Tyne and Wear Fire and Res­cue, as well as the city’s mag­is­trates’ court, are due for devel­op­ment.

The Grade-II listed plot was sold for around £455,000 to the Bri­tish Vir­gin Is­lands-based arm of Mot­comb Es­tates, owned by the Reuben Brothers, two of the rich­est men in the world.

Un­der a shake-up of New­cas­tle Civic Cen­tre both New­cas­tle Civil and Fam­ily Court will move to the council head­quar­ters with New­cas­tle Mag­is­trates’ Court mov­ing into the Crown Court on the Quay­side – free­ing up the Pilgrim Street site for unim­peded devel­op­ment.

Com­mer­cial prop­erty agent GVA has started to market the site and hopes to at­tract a ho­tel chain, shops and restau­rants to change the area into a ‘re­tail and leisure quar­ter.’

The bil­lion­aire brothers’ firm also owns Bank House Square, the derelict build­ings and land next to the for­mer po­lice sta­tion, bring­ing the to­tal amount of city cen­tre land the pair own to more than 26 acres – on just one street.

Ray Minto, director of land and devel­op­ment at GVA, said: “This is an ex­cit­ing op­por­tu­nity for an op­er­a­tor part­ner to bring for­ward a high-qual­ity ho­tel and food and bev­er­age of­fer which isn’t cur­rently pro­vided within New­cas­tle’s City Cen­tre leisure of­fer. The devel­op­ment forms part of a pro­gramme of re­gen­er­a­tion on Pilgrim Street ex­tend­ing from the Swan House round­about up to Northum­ber­land Street.”

New­cas­tle City Council said Pilgrim Street is one of the most strate­gi­cally im­por­tant city cen­tre re­gen­er­a­tion areas in the north of Eng­land, and the au­thor­ity has pri­ori­tised its re­de­vel­op­ment.

The area, which is en­tirely owned by the Reuben brothers’ com­pa­nies, is set to be trans­formed and pedes­tri­anised so it can be turned into ‘Pilgrim’s Quar­ter.’

How­ever, the brothers, whose deals could see the face of New­cas­tle city cen­tre com­pletely trans­formed, re­main some­thing of a mys­tery.

David and Si­mon Reuben, both in their 70s, were named the rich­est peo­ple in the UK last year by the Sun­day Times, and the 60th rich­est peo­ple in the world ac­cord­ing to Forbes Mag­a­zine.

The brothers shun pub­lic­ity and Si­mon, who is three years younger than his brother David, has given only one in­ter­view to a Bri­tish pub­li­ca­tion in his en­tire ca­reer.

The duo are es­ti­mated to have per­sonal wealth of £13 bil­lion and both live in Monaco.

David started off in the scrap met­als busi­ness, while Si­mon started out sell­ing car­pets, both in­creas­ing their wealth dur­ing the 1970s and 1980s.

They now own large chunks of real es­tate around the world in­clud­ing four miles of seafront in Ibiza, the Mill­bank Tower in Lon­don along with large swathes of May­fair in ad­di­tion to the Pilgrim Street site.

The old fire sta­tion and po­lice sta­tion in New­cas­tle

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