Durham Riverside Renewal
Construction underway at Milburngate in Durham City
Construction of the first phase of the landmark Milburngate development is underway in Durham City.
Recently appointed contractor Tolent has embarked on the project following an extensive two-year demolition and site remediation programme at the six-acre site.
The start of construction was marked by the breaking of ground by two local school children, Halle Robson, age five, and Alexandra Chilton, age eight, from St Margaret’s C of E Primary School in the city, alongside the developers, contractors and Durham County Council.
Phase one of Milburngate involves the construction of 70 percent of the entire Milburngate development, which will include a number of nationally recognised leisure operators including boutique cinema company Everyman, restaurant brands Bar + Block and Miller and Carter, as well as a 92-bed flagship Premier Inn hotel.
Alongside its premium leisure facilities, Milburngate will also incorporate 5,000 square metres of speculatively built Grade A offices, creating capacity for more than 400 new jobs, and 153 built-to-rent apartments.
As part of the construction, Tolent will also deliver a new frontage onto the riverside and attractive public realm spaces with impressive views of the historic city.
Milburngate is being delivered in joint venture by Durham-based property business Arlington Real Estate and the Richardson family, who together have already successfully delivered a number of strategically important regeneration projects across the region, including Freemans Reach in Durham City centre.
The development is supported by a £120m forward-funding commitment from LaSalle Investment Management, which is the first phase.
Allan Cook, Managing Director of Arlington Real Estate, said: “This is a major milestone in the regeneration of Durham’s riverside and future economic and social prosperity of the city. We are very proud to have broken ground at Milburngate and embark on a build programme that will create a regionally significant location that will attract people to Durham City, while creating and retaining important jobs.”
Ben Holmes, Director on behalf of the Richardson family, said: “Milburngate is a game-changer for Durham and will be an important asset for the city and the wider North East for generations to come. Durham City is a very unique location, with immense historical significance, but with a tremendous forward-thinking attitude and we are delighted to support the area with the development of Milburngate.
Cllr Simon Henig, Leader of Durham County Council, said: "We are committed to ensuring Durham is a great place to live, work and visit, with a thriving economy, good job opportunities and plenty of places for residents and visitors to relax and enjoy themselves.
“Milburngate is one of a number of key developments across the city, which includes the recently opened Riverwalk development, Durham University’s £1bn investment plans and the planned re-development of the Aykley Heads site, which will significantly boost the city and wider county’s economy.
“It is important we do everything we can to attract new investors to the county. There is so much to celebrate in Durham right now, and we are seeing significant investment right across the county, including a £75m development at Jade Enterprise Park in East Durham, our recent £271m expansion of NETPark in Sedgefield, a £115m development at Integra 61 at Bowburn and our £153m expansion of Aycliffe Business Park, home to the Hitachi rail facility.”
Andy Mcleod, CEO of Tolent, said: “The construction team are now on site and we are delighted to be starting this fantastic project. A project of this size and significance comes with a responsibility to deliver the highest quality of construction outputs but it also comes with a responsibility to support and work with the local community and ensure we leave a lasting legacy that everyone is proud of and one that hopefully inspires future generations.”
Julian Agnew, CIO for the UK at LaSalle, said: “We are delighted to be working closely with Arlington Real Estate and the Richardson family to deliver this project and believe it will make a considerable and positive long-term contribution to the local economy and community. This is an excellent example of where the capital from our pensions fund clients can be well-deployed for a positive impact to kickstart regeneration schemes.”
NEWS RELEASE: ISSUED ON BEHALF OF DURHAM RIVERSIDE RENEWAL
For further information contact Jamie Collis 01325 363436
Photo caption: Front Left to right: Allan Cook (Arlington) with Alexandra Chilton and Halle Robson break ground at Milburngate with (back row left to right) Terry Collins (Durham County Council), Andy McLeod (Tolent), Cllr Simon Henig (Durham County Council), Cllr Carl Marshall (Durham County Council) and Ben Holmes (Richardson family)
Durham Riverside Renewal
The development consortium consists of Arlington Real Estate and the Richardson family.
The project includes the regeneration of Freemans Reach and the redevelopment of Milburngate House, which are on adjacent banks of the River Wear in the heart of Durham City.
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.”
About Arlington Real Estate
Arlington Real Estate is also delivering another flagship County Durham development, DurhamGate. Located five miles south of Durham City, DurhamGate is on the site of Black & Decker’s former UK headquarters and, at almost 100 acres, it is among the largest regeneration projects in the North East of England
About the Richardson family
The Richardson family is a private, family-owned and operated property business with over half a century of real estate experience in the UK and overseas. Typically working in joint venture, the business has a long history of successful partnerships, having developed over 6 million sq ft of real estate across all sectors. More recently the family has continued to diversify by building an international growth capital portfolio across a range of sectors through a direct and co-investment programme.
About LaSalle Investment Management
LaSalle Investment Management is one of the world’s leading real estate investment managers with approximately US$65 billion of private and public equity and private debt investments under management (as of Q4 2018). LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Inc. (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
Tolent was formed in Tyneside in 1983. Since then we have amassed a huge variety of projects encompassing all types of building and civil engineering work in the public and private sectors.
One of Tolent’s greatest strengths is its versatility which enables us to deliver efficiency and excellence in projects of all sizes, whether they’re repair works valued at £5,000 or a £100 million contract for a flagship development.back to Durham Riverside Renewal