Market Leads & Opportunities
Green light for latest Riverside project
Plans for the next phase of construction at Durham’s Riverside development, which includes £160m of inward investment and the creation of more than 1,650 jobs, have been approved.Milburngate will be a mixed-use development split into three zones.Zone One will comprise the majority of the development, covering the more southern and central parts of the site.It will include a mix of commercial and non-commercial uses such as 291 residential units, an Everyman Cinema, 12 commercial units and food and drink establishments.A number of uses, including retail, financial and professional services, business, non-residential institutions and a gym, are all proposed for the site.The majority of Zones Two and Three were sought in outline, with all detailed matters reserved.The redevelopment of the site will commence in the spring of 2017 after the demolition of Milburngate House. The developers – Arlington Real Estate, Carillion and Richardson Capital LLP – are in the process of concluding lease agreements with a number of leisure operators.Redeveloping the Milburngate House site is the second key element of the regeneration of Durham’s Riverside, with the consortium having completed work on Freemans Reach on the opposite bank of the River Wear.
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