Former Newcastle bank HQ to be transformed into multi-million pound development
New plans for a multi-million pound residential and hospitality development in the centre of Newcastle have been put forward.
Portland Real Estate Group and Hedley Planning Services have submitted plans to Newcastle City Council for a new development on the site of the former Allied Irish Bank (AIB) North East office.
Situated at 9-17 Collingwood Street, the project would see the former bank office, which has been vacant for over eight years, transformed into a bar and restaurant complex as well as 12 serviced apartments on the upper floors.
An onsite concierge, a gym and cycle storage are also planned as part of a project that will see the existing frontage and most of the infrastructure retained, while the overall space will see the addition of a third-floor extension to the rear façade.
The project will create more than 100 jobs during the initial construction phase with a further 15 full time new positions in bar work, hospitality and cleaning services to follow when the site fully opens in 2022.
Mohsin Rashid, director of Portland Real Estate Group, commented: “This is a prestigious project that will see the transformation of a great city centre location, breathing new life into a site that has been left vacant for years and transforming it into one that will offer a desirable location where people can stay and experience the city at its best.”
Portland Real Estate Group is working with North East planning firm Hedley Planning Services, which is steering the proposals through Newcastle City Council’s planning committee.
Director Sean Hedley added: “This is a great development that represents a significant contribution to the vibrancy and vitality of an important local economic sector, bringing a well known site back into use.
“It’s in a really attractive location, with good transport links nearby as well as being within easy walking distance to a range of facilities and services.”
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular North East morning email for free.