Durham Riverside Renewal

Everyman Cinema sets its sights on Durham City after agreeing heads of terms for Milburngate development

05/10/2015

Boutique cinema operator The Everyman Group has earmarked Durham City as the location for its first boutique multi-screen cinema in the North East of England after agreeing Heads of Terms with the developer of Milburngate.

The proposed scheme is also attracting significant interest from a number of premium food and drink operators, which currently do not have a presence in the city or, in some cases, the North East region.

Milburngate, on the banks of the River Wear, will feature a high quality mix of homes, offices, bars, and restaurants as well as the cinema, and is set to become the North of England’s newest and most significant waterside regeneration project.

Following a successful public consultation earlier in the year, the consortium is finalising its proposals for the Milburngate House site to create a premium, mixed-use scheme for Durham City and the North East. A public exhibition will take place in November to enable the developers to conclude its application, which will be submitted around Christmas time.

The development consortium, comprising Carillion, Arlington Real Estate and Richardson Capital Llp, are ready to commence the project once permissions are granted by Durham County Council.

Milburngate will be the second phase of an ambitious regeneration project following the successful redevelopment of Freeman’s Reach on the opposite bank of the River Wear, retaining more than 1,000 high value jobs in the city centre as well as enhancing the riverside landscape and access for visitors.

Neil McMillan, Development Director, Carillion, said: “When we started this project we firmly believed that if we offered the right quality of environment then Durham City could attract some really exciting and innovative operators, transforming this site into a vibrant mixed use destination of regional significance. The positive responses we’ve had from our target operators, including Everyman, is really encouraging and reaffirms our view that we can create a scheme in Durham to rival some of the best developments in the UK. Whilst there is still a lot do, we are very much on track to turn our plans into reality and we expect to submit our planning application around Christmas time with the intent to secure approval in early 2016, with construction to commence soon after.”

Allan Cook, Managing Director of Arlington Real Estate, said: “Durham City is a very special place and with events like Lumiere its prominence within the UK is growing. Our city deserves more than just another generic high street scheme, a sentiment that was very much shared at our first public exhibition. In addition to securing a premium cinema offer in the form of Everyman we are engaged in late-stage discussions with a number of aspirational restaurant operators looking to position themselves within premium schemes such as Milburngate. We were always confident that our vision for this part of Durham would be attractive to such operators and that they would relish the opportunity to be part of this once in a lifetime regeneration opportunity.”

ENDS

NEWS RELEASE: ISSUED ON BEHALF OF DURHAM RIVERSIDE RENEWAL

CONTACT: Jamie Collis on 01325 363436

Editor’s Notes:

Durham Riverside Renewal

The development consortium consists of Carillion, Arlington Real Estate and Richardsons Capital LLP.

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.

The project includes the regeneration of Freeman’s 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 Carillion

Carillion Developments is leading a consortium for the development Durham’s Riverside, 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. 

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Images

Allan Cook (left) and Neil McMillan (right), overlooking Milburngate from Freeman’s Reach on Durham’s Riverside
Allan Cook (left) and Neil McMillan (right), overlooking Milburngate from Freeman’s Reach on Durham’s Riverside
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