A multimillion-pound housing and hospitality development is set to be created at the site of a former bank headquarters in Newcastle city centre.
The former Allied Irish Bank head office on Collingwood Street has been the subject of a number of planning applications over the last five years, with luxury apartments, offices and restaurant chains all planned for the site.
Now, nine years after Allied Irish Bank vacated the building, the property will be transformed into a ground and mezzanine floor bar and restaurant complex after planning approval was granted, six months after plans were submitted.
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Meanwhile, 12 serviced apartments will be built above on the first and third floors, alongside plans for an onsite concierge, gym and cycle storage, as well as a third-floor extension to the rear.
Developer Portland Real Estate Group has appointed a main contractor to carry out the redevelopment. The project was hoped to create or sustain more than 100 jobs during the initial construction phase with further new positions in bar work, hospitality and cleaning services to follow when the site fully opens.
Construction work will start soon with the occupiers and guests expected to be welcomed towards the end of the year.
Planning approval comes in the same week that leisure group Arc Inspirations renewed plans to open its Manahatta bar and restaurant brand in the building, four years after initially announcing its ambition to bring the New York-style party bar to Tyneside.
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North East planning firm Hedley Planning Services has worked with Portland Real Estate Group to secure approval for the development from Newcastle City Council’s planning committee.
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Managing director Sean Hedley said: “This is great news, bringing a well-known site in an attractive location back into use and securing its long-term future. The new development with its nearby transport links and easy walking distance to a range of facilities and services, will significantly contribute to the vibrancy and vitality of the local economic sector.”
Mohsin Rashid, director of Portland Real Estate Group, said refurbishment of the Victorian built site comes at a time of rising demand for high quality short or longer-term city centre leased accommodation.
He said: “We are delighted to secure planning permission for this exciting project and now look forward to getting our plans underway on a prestigious project that will see the transformation of a great city centre location.
“Redevelopment will rejuvenate a site that has been left vacant far too long and see it become a well sought-after location, where people can stay and experience the best the city has to offer.”
“We would like to thank the local authority, listed building and consultants who have all aided in bringing this project to life. Their input and experience have been invaluable."