Market Leads & Opportunities
Green light for latest Science Central development
The latest phase of Newcastle’s Science Central scheme – which includes the construction of an eight-storey building comprising office and restaurant space – has been approved.Legal and General is behind the application, which is earmarked for two separate plots of the masterplan site.The first of the two elements will be the erection of an eight-storey asset covering 140,000 sq ft. The upper seven floors, or 125,000 sq ft, will be office space while the ground floor will house a café, restaurant or additional office accommodation.The second element of the application is a 110-space car park. However, this will be a temporary arrangement pending the construction of a new Green Travel Hub.It is considered that the grade A office space to be provided by the asset is in “short supply” across the city centre, with Legal and General also suggesting that the project would support 165 temporary jobs throughout the 18-month build period and a further 250 jobs in the supply chain and related services.The finished structure could create 627 full-time operational jobs, which in turn could support a further 287 indirect and spin-off roles.The project would lead to an extra £22m worth of economic output per year during the construction.Set to create more than 4,000 jobs, 500,000 sq ft of office and research space and 450 homes, Newcastle Science Central is one of the biggest urban regeneration projects of its kind in the UK. The aim of the development is to become a hub for scientific research and technology businesses.
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