Big news klaxon! Sunderland’s cityscape is transforming with £2 billion of investment confirmed. A staggering £500m will be pumped straight into the city, breathing new life into the heart of Sunderland.
Residents, visitors and businesses can expect a dazzling new riverside complex brimming with new housing accommodation, pubs, bars and riverside restaurants, as well as stunning public amenities!
THE BEAM, the first building on the former Vaux Brewery site, now stands tall and has welcomed two businesses that will create more than 300 new jobs over the next year.
A stunning rebirth of an iconic city centre site, this new investment programme will see prime city centre locations reimagined.
Riverside Sunderland – a vision for the former Vaux Brewery site, Farringdon Row, and Galleys Gill which will all be connected to a reimagined Sheepfolds via a new pedestrian footbridge – has been hailed as the most significant investment announcement in decades.
With the backing of a major investor, bringing with it £120m of cash, the vision will pave the way for three buildings on the former Vaux Brewery site, including the new City Hall development, a new civic hub that will be home to a number of resident support services.
The investment will have a ripple effect into the city centre, creating a more vibrant High Street during the daytime and evening – great news for local businesses, visitors and residents!
Led by Sunderland City Council, stunning CGIs show a totally reimagined riverscape, with commercial and housing developments that will see the area burst back to life.
Committed investment means that there will soon be three buildings standing alongside THE BEAM.
City Hall, and an additional 180,000 square foot of Grade A commercial office development, which is more than three times the space that THE BEAM created when it opened its doors earlier this year.
Chief Executive, Patrick Melia, spoke to Sunderland Vibe about the recent developments: “Make no mistake, this is the single most significant investment story to come out of Sunderland for decades. We are absolutely delighted that the vision we have created for this city is attracting the enthusiasm, support and most importantly financial backing of investors.”
The development is expected to get underway in 2021, another exciting step forward for Sunderland.
“The vision we now have, coupled with the cash needed to deliver key parts of it, will supercharge plans to transform our city centre, creating a magnet destination that will attract more people to live, work and play here. Sunderland has been something of a sleeping giant, but it has awoken, and we’re absolutely determined to ensure this city realises every bit of its vast potential.”
“This vision is a huge step forward, but there’s more to come. We are absolutely determined to create the healthy, dynamic and vibrant city our residents deserve and want to see, and we will keep building on each success, to transform Sunderland and create a place where people can be proud to live, work and do business.”
The news follows a series of positive investment announcements from the city council in recent months. Among other exciting new city centre developments is a 120-room Holiday Inn hotel on Keel Square; a 450-seater auditorium, that is now under construction in the city’s Minster Quarter; a new business centre, in the former River Wear Commissioners Building as well as announcements in Seaburn of a STACK development and a pub with rooms from the Inn Collection Group.
FOR MORE INFORMATION, MAKE SURE YOU VISITRIVERSIDESUNDERLAND.COM AND KEEP YOUR EYES PEELED FOR FURTHER DEVELOPMENT.