Partner Article

Swan Hunter sale completed

The centre of Tyneside’s shipbuilding industry is under new ownership.

The Swan Hunter yard has been bought up by North Tyneside Council in a joint venture with One North East.

The partners have funded the purchase with the aim of developing the 600-hectare site.

North Tyneside Mayor, Linda Arkley said: “Swans is key to the development of the whole North Bank of the Tyne site – and particularly to the future regeneration of Wallsend.

“This purchase of the site is a significant step forward and now we can focus on how we can deliver our ambitions, together with partners, to ensure North Bank is a driver for both the borough’s and region’s economy.”

David Cramond, One North East Director of Capital Development, said: “The Swan Hunter site played a hugely significant role in the history of industrial development in the North East and will now be at the heart of a new generation of industries.

“We are determined that the former Swan Hunter site will play a central role in the redevelopment of the area and once again contribute significantly to the regional economy.”

The sale comes a week after the new Strategic Development Framework Plan for River Tyne North Bank was published.

This 15-20 year blueprint will be used by all partners in the North Bank project – North Tyneside Council, Newcastle City Council, One North East and the Homes and Communities Agency - to guide the future regeneration of the land.

The waterfront is earmarked for marine industry and marine related business uses, with some office development acting as a buffer to protect riverside communities from any adverse effects of industry.

This was posted in Bdaily's Members' News section by Ruth Mitchell .