Taras Properties scheme for city gateway site

Taras Property is to bring forward a high-quality office scheme to redevelop the prominent former Bank of England “city centre gateway” site at the junction of Pilgrim Street and Swan House roundabout.

The company will invest in Bank House, a 14 storey, 120,000 sq. ft. Grade A landmark office building, with complimentary ground floor retail uses, which will be a significant step for the wider East Pilgrim Street Regeneration Area development proposals.

The building will incorporate 10,000 sq ft floorplates of clear, open plan column-free space, offering unobstructed views across the city. A BREEAM “Excellent” rating is being sought as part of the detailed design works.

The scheme will also involve public realm improvements incorporating planting, new seating areas and realignment of the junction of Pilgrim Street with the 55 Degrees roundabout.

Commercial and project management advice on the scheme is being provided by GVA with architectural design by Ryder Architecture. Arup is providing engineering input.

Gordon Hewling, regional senior director, GVA said: “This exciting proposal to create a new landmark office building on the Bank of England site is another step towards transforming East Pilgrim Street, which will enhance Newcastle City Centre’s attractiveness as both a leisure and business destination”.