Member Article

NE1 Ltd granted lottery funding to begin Bigg Market transformation

Business Improvement District company NE1 Ltd has been granted £1.6m to transform the Bigg Market area of Newcastle, expected to begin next Spring.

The funding, from the Heritage Lottery Fund (HLF), coupled with capital from Newcastle City Council, property owners and NE1 Ltd itself, will deliver a total investment of £2.9m in the area.

Working with partners, NE1 will now be able to implement plans to carry out conservation work on the street’s listed buildings and shopfronts.

The plans aim to create an economically sustainable business model for owners of the listed buildings. Improving and investing in the fabric of the buildings and restoring their appearance will go some way to achieving this says NE1.

NE1 disclosed that the public realm will also be rejuvenated to create a series of levelled terraces to transform the appearance of the passageway.

Repositioning the Bigg Market as a popular destination, the firm also hopes to create appealing, functional and useable spaces to pave the way for future events in this part of the city.

Sean Bullick, Chief Executive at NE1 Ltd said: “We’re absolutely delighted that the HLF has backed our plans to reinvigorate Newcastle’s Bigg Market recognising both its significance as a major heritage asset and the contribution the area can make to the future economic prospects of the city.

“Thanks to the HLF award, and the City Council who are providing a £300k grant towards the public realm works, we will now be able to realize our shared vision for the area.

“We know that the £1.6 million HLF funding will be the catalyst for change and the key to unlocking further multi-million investment in the area.

“The Bigg Market transformation will be hugely significant for the whole city. We can’t wait to start working with businesses and with the City Council to deliver our plans.”

Cllr Ged Bell, Cabinet Member for Investment and Development at Newcastle City Council, added: “Securing this funding will now allow the partners to progress with plans to restore and transform this historic quarter of the city, making best use of its assets and breathing new life into the Bigg Market.

“This is a prime example of how working together can help unlock further investment, and we’re delighted to have secured this funding, which is testament to the hard work of all the partners.

“The Bigg Market is a major part of our city centre ambitions to extend Newcastle’s retail, leisure and cultural offer, supporting the council’s Re-Newcastle programme of investment focused on renewing and reshaping our city.”

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