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Business & Economy

Plans submitted for £100 million Pilgrim Place regeneration scheme

A £100 million landmark redevelopment project on Pilgrim Street in Newcastle city centre is now a step closer to being realised following the submission of a planning application.

The plans propose redeveloping the former Bank of England plot into a new complex called Pilgrim Place, which will provide new premises for a variety of commercial tenants, including offices, bars, and restaurants.

According to the application submitted by Avison Young on behalf of Taras Properties, the proposed site includes the eastern side of Pilgrim Street, adjoining the site of the former Bank of England, as well as Worswick Street bus station, Worswick Chambers, and the NCP car park on Carliol Square.

The application also lists a new underground car park and a public plaza, together with up to approximately 376,000 sq ft of A grade commercial office space at the proposed 1 and 2 Pilgrim Place.

In addition to the new development, there are also plans to restore and refurbish Worswick Chambers and 93-101 Pilgrim Street, which are both listed buildings, and turn them into new bars and restaurants.

As well as regenerating the eastern side of Pilgrim Street area, it’s also hoped that the scheme will create up to 4000 jobs if businesses move to the city centre to take office space in the new development.

Avison Young has been instructed by Taras Properties, which owns the entire site, to drive plans forward, and has now sent a detailed application for Pilgrim Place to planners.

Commercial, town planning and project management advice is being provided by Avison Young with architectural design by Ryder Architecture, while Arup is providing engineering input.

Matt Verlander, director at Avison Young, said: “Avison Young are delighted to have submitted this application which marks another key milestone in the major proposals to regenerate the Pilgrim Street area of the city centre.

“The Pilgrim Place application completes a comprehensive scheme for the ‘southern block’ site, which includes the Bank House office building along with a major new public plaza — Pilgrim Place — with underground parking and 1 and 2 Pilgrim Place, which will provide a further 35,000 sq mt of office space.

“We are also seeking to restore and refurbish the listed Worswick Chambers which is proposed to provide a unique setting for a variety of tenants including bar and restaurant businesses.”