Newcastle's former Bank of England site set to become new office development

Taras Properties is to bring forward a new office scheme to redevelop the former Bank of England ‘city centre gateway’ site at the junction of Pilgrim Street and Swan House roundabout.

It will invest in the construction of Bank House, a 14 storey, 120,000 sq ft Grade A landmark office building, with complementary ground floor retail uses.

The building will incorporate 10,000 sq ft floorplates of clear, open plan column free space, offering unobstructed views across the city. A BREEAM ‘Excellent’ rating is being sought as part of the detailed design works.

Gordon Hewling, regional senior director of GVA, said: “This exciting proposal to create a new landmark office building on the Bank of England site is another step towards transforming East Pilgrim Street, which will enhance Newcastle city centre’s attractiveness as both a leisure and business destination.”

The scheme will also involve public realm improvements incorporating planting, new seating areas and realignment of the junction of Pilgrim Street with the 55 Degrees roundabout.

Taras Properties, which owns the entire site, has worked up the development proposals with Newcastle City Council.

Commercial and project management advice on the scheme is being provided by GVA with architectural design by Ryder Architecture. Arup is providing engineering input.

The site was home to the Bank of England, constructed in the late 1960s, but which lay empty for several years before being demolished in 2012.

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