Who wants a part in city’s next big thing?

RELAUNCHED NEWGATE CENTRE TO BE FILLED UP

Business Reporter THE search to find retailers and leisure firms keen to be a part of the multi-million pound regeneration of the Newgate Centre is under way.

Newcastle-based chartered surveyor and property consultancy Sanderson Weatherall has been appointed as letting agent on 22,000 sq ft of retail and leisure space which will be available at the new centre, which is currently under construction.

McAleer and Rushe purchased the two-acre city centre site for £18.2m in 2006, but the existing 1960s Newgate Shopping Centre was only flattened last year to make way for a new £100m mixed use development.

Due to be completed in spring 2018, the development will include a 575-bed student residential scheme and 269-bed hotel, as well as the planned shops and leisure space.

Last year it was announced that the Dalata Hotel Group – Ireland’s largest hotel operator – will open a luxury Maldron hotel at the site, its first in the UK.

Dalata signed a 35-year lease with McAleer & Rushe, the Northern Ireland-based developer leading the project, for a new four-star Maldron Hotel, their eighth under the upmarket brand.

Alongside the flagship hotel will be 185,000 sq ft of student accommodation operated by the Unite Group Plc, delivering more than 500 beds.

Now Sanderson Weatherall wants to hear from companies who want to come on board in the remaining space.

Mark Convery, retail agent at Sanderson Weatherall, said: “This is a fantastic opportunity for retail and leisure brands to become part of a landmark development in the heart of Newcastle city centre.

“The units available range between 6,600 sq ft and 22,800 sq ft, and are located at ground and basement levels on Clayton Street and Newgate Street.

“Due to the highly prominent city centre location and high profile nature of this development, we expect significant interest.”

The original centre was opened in 1969, but the majority of the units lay vacant for some time before the demolition and redevelopment project was launched.