Stephenson Quarter | Newcastle | 40/35/2 x 30/3 x 25m | 9/9/2 x 8/3 x 7 Fl | Approved

[kedos]

I agree, I drive past there most nights and although soon after these photos were published there was "activity" (suits rather than groundworkers wandering around the site) its definately been quiet since. Shame, I was hopeful we'd see some new construction starting.

[gregstone]

I hear a deal is expected to be signed by the council on Wednesday which will enable the SQ Crowne Plaza 5 star hotel scheme to go ahead

[toonlad]

First 5 star hotel in the city. Great news

[bigchrisfgb]

Originally Posted by gregstone

I hear a deal is expected to be signed by the council on Wednesday which will enable the SQ Crowne Plaza 5 star hotel scheme to go ahead

Thats great news, thanks for sharing Greg. Maybe we should get the planners from SQ to work on EPS, and Science city.

[gregstone]

My source was very upbeat about level of developer interest in the city - best for a few years. Some good news anticipated on a couple of big regen schemes shortly as well - watch this space.

[TownPlanningNE]

This is great news, hopefully it means Stephenson Quarter should be under way in the not to distant future. Also be sure to keep us informed on the news of these big regen schemes; cheers Greg!

[TownPlanningNE]

Greg, Have you heard any more news about the Stephenson Quarter/Crowne Plaza deal?

[gregstone]

It is due to be agreed at city council Executive this afternoon, but is a "confidential item" due to commercial sensitivity.

[TownPlanningNE]

Originally Posted by gregstone

It is due to be agreed at city council Executive this afternoon, but is a "confidential item" due to commercial sensitivity.

Ah right, makes sesne I guess. Do you think we'll hear any press release/news articles about it or will it be a while before anything is made public?

[gregstone]

I imagine there will be a press release shortly.

[Newcastle Historian]

Newcastle City Council will fund a four-star hotel
October 28th 2010, by Adrian Pearson, The Journal



CITY leaders are to borrow £30m to build a four-star hotel in the centre of Newcastle, it emerged last night.

Newcastle Council says it has no choice but to borrow the cash if it wants to see the Stephenson Quarter regeneration project behind the Central Station go ahead.

Council leaders hope to create 2,200 jobs with work set to start early next year.

The jobs hope is, however, offset by news the council will lose 2,000 posts over the next four years as a result of a £110m shortfall following the Government’s spending cuts.

Leaders believe the £30m borrowing is justified by the need to keep the city economy going during the nest few years.

City treasurer Paul Woods will lend a slice of the cash that’s borrowed by the council to the developer, Silverlink Holdings, which will build the four-star hotel overlooking the River Tyne.

The building will then be handed over to the operator, Crowne Plaza, and the loan repaid.

The council will use the rest of the of the money to buy plots of land near the hotel site and kick-start work on buildings that will be sold on at commercial rates. If Newcastle did not borrow the cash and hand it over to developers, it is feared the land would remain derelict for another decade at least.

Instead, construction is set to start in March 2011 with phase one due to be completed in the late summer of 2013.

In its entirety, the development includes the 251-bed four-star hotel, a 60-bed boutique hotel, business centre, exhibition space, commercial offices and 156 residential apartments.

David Slater executive director of environment and regeneration at Newcastle City Council, said: “This is one of the key development opportunities in the city centre, therefore Newcastle needs to grasp the opportunity to move things forward, working in partnership with developers.”

Silverlink Holdings has secured business backing, but cannot get a loan for the four-star hotel itself as banks are reluctant to lend money to fund this type of scheme. Said company director Michelle Percy: “The Stephenson Quarter has been our main focus for over six years and during that time we have worked in close partnership with the City Council.


Read More - http://www.journallive.co.uk/north-e...#ixzz13dpP0t69

[toonlad]

For the first time in a long while, I beginning to have a little faith in the Council. Its a shame the public sector are having to finance things like this, with the banks being so unwilling to lend, but its good the council are willing to do this.

[bigchrisfgb]

Good news the council is starting to back developements and put their money where their mouth's are, but what happend to the 5*?, it's dropped to a 4*.

[TownPlanningNE]

Originally Posted by Newcastle Historian

Newcastle City Council will fund a four-star hotel
October 28th 2010, by Adrian Pearson, The Journal



CITY leaders are to borrow £30m to build a four-star hotel in the centre of Newcastle, it emerged last night.

Newcastle Council says it has no choice but to borrow the cash if it wants to see the Stephenson Quarter regeneration project behind the Central Station go ahead.

Council leaders hope to create 2,200 jobs with work set to start early next year.

The jobs hope is, however, offset by news the council will lose 2,000 posts over the next four years as a result of a £110m shortfall following the Government’s spending cuts.

Leaders believe the £30m borrowing is justified by the need to keep the city economy going during the nest few years.

City treasurer Paul Woods will lend a slice of the cash that’s borrowed by the council to the developer, Silverlink Holdings, which will build the four-star hotel overlooking the River Tyne.

The building will then be handed over to the operator, Crowne Plaza, and the loan repaid.

The council will use the rest of the of the money to buy plots of land near the hotel site and kick-start work on buildings that will be sold on at commercial rates. If Newcastle did not borrow the cash and hand it over to developers, it is feared the land would remain derelict for another decade at least.

Instead, construction is set to start in March 2011 with phase one due to be completed in the late summer of 2013.

In its entirety, the development includes the 251-bed four-star hotel, a 60-bed boutique hotel, business centre, exhibition space, commercial offices and 156 residential apartments.

David Slater executive director of environment and regeneration at Newcastle City Council, said: “This is one of the key development opportunities in the city centre, therefore Newcastle needs to grasp the opportunity to move things forward, working in partnership with developers.”

Silverlink Holdings has secured business backing, but cannot get a loan for the four-star hotel itself as banks are reluctant to lend money to fund this type of scheme. Said company director Michelle Percy: “The Stephenson Quarter has been our main focus for over six years and during that time we have worked in close partnership with the City Council.


Read More - http://www.journallive.co.uk/north-e...#ixzz13dpP0t69

Do we think that will be all of phase one?

Just a reminder of what phase one is...

Phase 1
Building A
Hotel – Crowne Plaza 4 star plus 254 beds

Building BCD
Royal Mail Distribution Centre
326 space car park
Offices 35k sqft

Building E
Offices 12k sqft

Or only the Crowne Plaza? Maybe Greg knows the exact details of what has been agreed for phase one?

[toonlad]

Just a reminder of the proposed layout:

[inmh88]

Originally Posted by gregstone

My source was very upbeat about level of developer interest in the city - best for a few years. Some good news anticipated on a couple of big regen schemes shortly as well - watch this space.

Excellent!!!

Pilgrim Street & Newgate Street, hopefully going ahead and redeveloped!!!

I'll do the bulldozing myself! watch out Thompsons!

[AngerOfTheNorth]

First time I've actually made a point of saying this, but thanks for all of the photography you put up Stamford. The quality of some of your shots is excellent and it really helps the discussions along.

As for the council's loan to help build the Crown Plaza and a few other buildings, I'm with Chris and Toonlad - well done NCC! It's brilliant to see the council in a genuinely proactive, enabling role. That's what the public sector is there to do, ensure that good development gets past any small hurdles. Obviously they're working with public money so must avoid silly risks, but if there's plenty of assurances that the money is safe, then this is exactly the right decision to make.

[kedos]

Couldn't agree more NCC

[Newcastle Historian]

Spring start for £50m Stephenson Quarter development
November 3rd 2010, by Peter McCusker, The Journal


A UNIQUE deal for the North East property market will kickstart work on Newcastle's Stephenson Quarter development with construction of a hotel, car park and 40,000sq ft of office space set to begin early next year.

Newcastle City Council has agreed to provide a £30m loan to developers Silverlink to allow it to proceed with Phase One of the scheme.

Silverlink has secured additional funding from a consortium of North East banks to progress the £50m-plus development.

Silverlink director Michelle Percy says the enthusiasm of the council has ensured the scheme will progress.

“We have been talking to the council on almost a monthly basis over the last couple of years and the ‘can-do’ attitude has been the key to getting the scheme off the ground.”

Silverlink, which developed and then sold the Newcastle Quayside Trinity Gardens development, has spent a number of years buying the land at the city’s Stephenson Quarter, a 10-acre site to the south of the Central Station.

Its masterplan for the area, which has been met with widespread approval and had been passed by city planners, includes a 250-bed four-star hotel, almost 200,000sq ft of offices, a boutique hotel, 155 flats, art and business exhibition space and restaurants.

Phase One comprises a 2.5-acre portion of the site, which will consist of a 250-bed Crowne Plaza hotel, 40,000sq ft of Grade A offices and a 320-space multi-storey car park.

Silverlink had hoped to begin work on the scheme early this year but the recession and the collapse of commercial property market left it unable to secure the finance to get it off the ground.

But the £30m loan from the council will allow Silverlink to commence work in the spring with completion of all three buildings due in early 2013.


Read More - http://www.nebusiness.co.uk/commerci...1140-27587452/

[Newcastle Historian]

.
I don't think there was a separate thread for this? . . .

Newcastle boutique hotel plans collapse
by Peter McCusker, The Journal, January 19th 2011



PLANS for a boutique hotel in Newcastle city centre appear to have collapsed after the company which owned the 200-year-old building went into administration and the new owners lodged plans to convert it into flats.

The run-down, Grade II-listed, Friar House in Clavering Place was bought for £700,000 by a newly formed venture S2 Hotels in 2008, and it unveiled ambitious plans to turn it into a luxury hotel.

A £1.25m refurbishment programme was scheduled and work began in 2009 after S2 secured planning consent, but little progress was made and the company went into administration last year with debts of £1.4m.

Manchester-based administrators CLB Coopers has subsequently sold the business for a sum believed to be less than £500,000, and the new owners have now submitted plans for it to be converted into 15 flats.

Chris Pearson, a partner at Newcastle property agents Gavin Black & Partners, who advised the purchaser, said: “The building has listed building consent for conversion to form a 10-bedroom hotel with ancillary bar and restaurant. “At just over 8,500 sq ft over four floors the building could offer other opportunities such as residential or office space subject to planning.

“In such a strong location that has been the focus of significant land assembly by developers, this is a good opportunity for a range of occupiers. “This is the next city centre quarter ready for transformation in the short to medium term.


Read More - http://www.nebusiness.co.uk/commerci...1140-28010750/