Former Bank of England Site, East Pilgrim Street
18 Jan 2019
Taras Properties 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.
They will invest in the construction of 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 square foot 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.
Taras Properties, which owns the entire site, has worked up the development proposals with Newcastle City Council.
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.”
Ryder Architecture commented: “This is a key development opportunity for Newcastle and will act as a catalyst for the revival of Pilgrim Street as a vibrant part of the city core with improved access, high quality public realm and civic space befitting a key city centre gateway.”
The site was home to the Bank of England, constructed in the late 1960s, but which lay empty for several years before being demolished in 2012.