Durham Riverside Renewal
Acquisition of Milburngate House announced
The development consortium behind the successful Freeman’s Reach development in Durham has announced the acquisition of Milburngate House as part of its vision to regenerate the city’s Northern Quarter.
The consortium, which is made up of Durham based property developer, Arlington Real Estate, support services company, Carillion and Richardson Capital, are currently formulating ideas to maximise the unique benefits of the site at the heart of Durham City.
In the near future it will begin a consultation process with key stakeholders and members of the public to share these ideas in advance of formalising any proposals for the future of the site, which is currently occupied by National Savings and Investments (NS&I).
Neil McMillan, Development Director of Carillon Developments, said: “Securing Milburngate House is a major milestone in the regeneration of Durham City. The scale of this site, its riverside frontage and fantastic views up to the World Heritage site make for a truly outstanding development opportunity, which will have a significant economic impact on Durham and add to the character of the City.
“We are looking forward to working with the local authority, key stakeholders and the public in Durham throughout the development of our ideas for the site.”
Allan Cook, Managing Director of Arlington Real Estate, said: “The new development taking place in the Northern Quarter is certainly enhancing the city of Durham, further enabling it to compete with cities such as Chester and Oxford securing its place among the great world heritage cities in Europe.
“With the successful regeneration of Freeman’s Reach nearing completion, our team has demonstrated the high standard of development we can bring to Durham.
“At almost seven acres, the MiIburngate House site represents a huge opportunity for us to bring forward something really exciting and I am confident that when our plans for the site have been finalised the results on the ground will bear this out.”
NEWS RELEASE: ISSUED ON BEHALF OF DURHAM RIVERSIDE RENEWAL
CONTACT: Jamie Collis on 01325 363436
About Freeman’s Reach
The development consortium for the Freeman’s Reach project is consists of Carillion and Arlington Real Estate, supported by Richardsons Capital LLP. The project is funded by Legal & General Property.
The development project leader is Allan Cook, Managing Director of Arlington Real Estate. Allan is a North East based regeneration specialist and property developer.
Arlington Real Estate and Carillion also work in partnership on another flagship County Durham development, DurhamGate. Located five miles south of Durham City, DurhamGate is on the site of Black & Decker former UK headquarters and, at 60 acres, is the largest regeneration project in the North East.
According to the Sunday Times 2014 ‘Best Places to Live’ listing:
“Durham is a lovely place to live. Beneath its glorious cathedral, you’ll find pretty cobbled streets stuffed with little independent shops and great watering holes, a beautiful river that carves its way through dramatic walls of rock and greenery, and some attractive house stock – along with a thriving buy-to-let market, thanks to all those students. One of the nicest places to live is South Street, which looks directly onto the cathedral and castle, and which inspired Sir Walter Scott. Many of its terraced houses are grade II listed; prices range from £400,000 to more than £1m.”
Carillion Developments is leading a consortium for the development of Freeman’s Reach, which is made up of North East property company, Arlington Real Estate and Richardsons Capital.
Carillion Developments is part of the UK’s leading support services company, Carillion plc.
Carillion is a leading integrated support services company with a substantial portfolio of Public Private Partnership projects and extensive construction capabilities. The Group had annual revenue in 2013 of some £4.1 billion, employs around 40,000 people and operates across the UK, in the Middle East and Canada.
Carillion is a member of the FTSE4Good Index and in 2013 the Group was awarded Platinum Big Tick status in Business in the Community’s Corporate Responsibility Index. It has also achieved an ‘A-list’ position on the 2014 FTSE 350 Climate Performance and Disclosure Leadership Index, placing it within the top echelon of global companies with regard to actions to mitigate climate change.
The Group has four business segments:
Support services – this includes facilities management, facilities services, energy services, utility services, road maintenance, rail services and consultancy businesses in the UK, Canada and the Middle East.
Public Private Partnership (PPP) projects - this includes investing activities in PPP projects for Government buildings and infrastructure, mainly in the Defence, Health, Education, Transport and Secure accommodation sectors.
Middle East construction services - this includes building and civil engineering activities in the Middle East.
Construction services(excluding the Middle East) - this includes building, civil engineering and developments activities in the UK and construction activities in Canada.back to Durham Riverside Renewal