Homes, offices and restaurant in city green plan

Jul 25 2007

by Graeme King, The Journal

PLANS for a three block, mixed-use development in the centre of Sunderland have been re-submitted this week with some minor changes by Belfast developer Vico Properties. The City Green project will be significant for establishing a new high in office rents for Sunderland at £16.50 per sq ft. The whole development will include 58 apartments, 56 sheltered housing units, around 40,000sq ft of office space, and a ground floor restaurant/bar. Vico says the changes are merely altering the internal layout of the accommodation. City Green will be built on the site of the University of Sunderland’s Benedict Building, with the site running from St George’s Way through to Cowan Terrace – next to the Park Lane bus and Metro interchange. Story continues ADVERTISEMENT The scheme is unusual in bringing speculative development to Sunderland, when up to now any new office requirements have been secured in the subsidised areas of Doxford Park and Hylton Riverside. The new application for City Green comes just a week after Sunderland Arc submitted its plans for Farringdon Row on the western edge of the city centre. That will involve 70,000sq ft of offices, a three star hotel, 124 apartments and 3,600sq ft of retail space. However, office developers on Wearside have generally been frustrated at the pace of change in the city with much depending on the resolution of the long running battle between the Arc and Tesco for the Vaux site which is expected to eventually provide around 300,000sq ft of office space, amongst other uses.

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Commercial Property Work on Lite-On site set to start next year Aug 8 2007 A MAJOR new development in Ashington will see more than 100,000 square feet of industrial units created at the former Lite-On factory. The site, now known as North Seaton Business Park, is being developed by Spencer Holdings from St Helen’s in the north-west. more Popular city centre comedy club is to be extended Aug 8 2007 PLANNING permission has been secured for an extension to the popular Hyena Comedy Club in the centre of Newcastle. Architects CSM, based in the Ouseburn area of the city, have won permission for a ground floor extension to the club. more North market stable but London booms Aug 8 2007 DEMAND for commercial property in the North-East remained steady in the second quarter of 2007, while the London market moved ahead, apparently showing a widening of the North/South property divide. more Property market can ride the storm Aug 8 2007 THE last four weeks has seen a distinct cooling in the global economy as the true force of interest rate rises in the UK and US come to bear. Venture Capital Funds are cooling as, in turn, are equities and the UK property market. more In heart of town Aug 4 2007 POPINJAYS Restaurant, located on Hide Hill in the heart of Berwick -upon-Tweed, is a well established business. more Popular card shop put on the market Aug 4 2007 The business is situated on the main shopping street and has been reluctantly placed on the market. The shop is fully fitted and equipped for the trade and the premises also benefit from air conditioning. more Click here for more Commercial Property news

Business News Recruitment company forecasts £5m sales Aug 9 2007 A RECRUITMENT company is expecting to reach £5m sales by the end of its second year in business – a five-fold increase it credits to booming North-East manufacturing. more Interest rates to hit 6%, hints Bank Aug 9 2007 BANK of England policymakers signalled borrowers could face a hike in interest rates to 6% before the end of the year. The Bank’s key quarterly inflation report suggested a further rate rise could be needed this autumn. more Growing success for the family Aug 9 2007 AJM Dream Gardens, based in Consett, County Durham, was set up by entrepreneur Martin Boyle, who already ran a natural stone business. AJM Dream Gardens, based in Consett, County Durham, was set up by entrepreneur Martin Boyle. more £2m homes deals in frame for pair Aug 9 2007 A FLEDGLING timber frame manufacturer is on the verge of signing two deals, worth £2m, that will double its turnover and workforce by next year. more PROFITS at Gateshead construction company Tolent have fallen by nearly 30% to £1.5m in the first half of 2007. Aug 9 2007 Turnover also suffered – falling nearly 10% to £76.2m as several contracts suffered delays. more Jobs safe in deal over NEL Power Aug 9 2007 MORE than 50 jobs will be saved after Teesside power station builder NEL Power was bought out of administration by a competitor. more Click here for Business News from The Journal

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