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Metrocentre and Eldon Square add £566m to North East economy

The Metrocentre and Eldon Square contributed £566m in GVA to the North East economy last year, according to a new report by owner intu.

The study found the total contribution by intu shopping centres grew by £700m in 2016, up from £4.2bn in 2015. 14,900 North East jobs were also supported by both shopping centres last year.

The number of jobs they supported across the country increased by 14% to more than 137,000, with a total wage bill of £1.9 billion.

intu’s development pipeline is expected to generate an additional 31,000 jobs and a further £1.95 billion for the economy over the next 10 years.

The Metrocentre is Europe’s largest covered shopping and leisure centre, offering a blend of retailers and dining.

Alongside brands such as Cath Kidston, Hugo Boss, Carluccio’s and Coast, a £34 million investment programme from 2011 – 2016 has created an exclusive new aspirational retail experience, Platinum Mall – where designer brands can be found in a luxury setting.

The extension of the Qube leisure area has attracted many new restaurants, including Thaikun, MOD Pizza, Barburitto and the UK’s first Movenick ice-cream boutique, encouraging day-long dining, from a quick bite to a three course meal.

Located in the heart of Newcastle city centre, intu Eldon Square is one of the UK’s largest city centre shopping destinations, with over 130 leading high street stores, including John Lewis, Fenwick and Debenhams.

The new £25m Grey’s Quarter dining development has expanded the centre’s restaurant offering with new names to the city including George’s Great British Kitchen and roof top terrace restaurant Chaophraya, as well as family favourites such as Bella Italia and TGI Friday’s.

Gavin Prior, regional director at intu Metrocentre and intu Eldon Square, said: “Creating and managing retail and leisure destinations that customers want to visit helps businesses flourish across the country, drives up investment in towns and cities and establishes real local prosperity.

“The jobs they create cater for a wide range of skills and abilities and deliver more entry-level and flexible routes into employment.”

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