Durham City’s Riverside is to embark on next stage of ‘masterplan’
The development consortium behind the regeneration of Durham City’s Riverside is to embark on the next stage of its masterplan after Durham County Council granted permission for the development of Milburngate.
Milburngate will be a premium, mixed-use development and will provide the opportunity for circa £160 million of inward investment and the creation of more than 1,000 full-time jobs.
The redevelopment of the site will commence in spring 2017 following on from the demolition of the existing building, which is currently in its first stages.
Featuring an Everyman Cinema as the cornerstone of its leisure offering, the riverside development will also host a range of premium restaurants and bars as well as apartments and office space.
The developers, Arlington Real Estate, Carillion and Richardson Capital, are now in the process of concluding lease agreements with a number of leisure operators.
Christopher Ives, development director at Carillion, said: “Milburngate will breathe new life into the site and continue the positive transformation of the riverside; it will also aid the social, economic and physical regeneration of Durham City.”
Neil McMillan, managing director of Arlington Real Estate, added: “The calibre of the operators we are attracting, including Everyman, will add an experience and quality of offer not available in Durham and, indeed, in some instances not available in other parts of the North East. We believe this will increase the number of visitors to the city as consumers increasingly look for something different and unique.”
