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Councillors and committees

Issue - meetings

Gateshead Quays and Levelling Up Fund 2 Bid

Meeting: 19/07/2022 - Cabinet (Item 33)

Gateshead Quays Update

Report of the Chief Executive, Strategic Directors, Economy, Innovation & Growth, and Resources & Digital

Minutes:

Consideration has been given to an update on the Gateshead Quays regeneration scheme (The Sage Arena and Conference Centre, and hotel).

 

 

 

RESOLVED -

(i)

That the alternate design and value engineering work that Ask Real Estate and Patrizia UK (A&P) and their design team have proposed, to reduce costs, with the objective of delivering a viable scheme as set out in the report be approved.

 

 

 

 

(ii)

That the underwriting of the cost of the technical design works through to the submission of a revised planning application, at an estimated cost of the amount set out in the report and the amendment of the Development Agreement accordingly as set out in the report be approved.

 

 

 

 

(iii)

That the intended submission of the Levelling Up Fund (LUF) 2 Bid to Government be noted.

 

 

 

The above decisions have been made for the following reasons:

 

 

 

 

(A)

To bring forward the regeneration of Gateshead Quays, which supports the Council’s aspiration of making Gateshead a place where everyone thrives.

 

 

 

 

(B)

To reaffirm the commitment to invest in the local economy to provide sustainable opportunities for employment, innovation and growth across the borough.

 

 

 

 

(C)

To maintain momentum on the scheme, signal confidence in the local economy which is important as part of the delivery of the Economic Development Strategy.

 

 


 

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