The North East
New North East Combined Authority to turbocharge inward investment and business growth in the region
Newcastle Gateshead Quayside
The new North East Combined Authority is unlocking billions of pounds in funding and investment, putting the region firmly in the spotlight.
Kim McGuinness, the North East Mayor, is committed to implementing the region’s first Local Growth Plan which is expected to turbo- charge investment and drive further growth in the region’s sector specialisms.
Supporting businesses to invest and locate in the region is Invest North East England - the strategic inward investment agency for the North East Combined Authority. Having been operating in the region for more than a decade, Invest North East England uses its extensive knowledge of the regional economy to con- nect businesses to the North East’s network of specialist organisations and individuals, and provide the information, support and advice businesses need when looking to locate in the region.
A key part of its offering is a property and land database that brings together available strate- gic commercial property, land, manufacturing
and industrial sites across North East England. The Commercial Property and Land database provides a live, interactive map of the sites available to buy and rent across the seven local authority areas that make up the North East Combined Authority. Prospective inves- tors can search for all office accommodation over 2,000 sq ft, all industrial and workshop accommodation over 5,000 sq ft, strategic development sites in North East England, and access an overview and contact details of managed workspaces.
Some of the sites included on the database include major regeneration projects in the North East’s biggest towns and cities. In Newcastle upon Tyne, a multi-million pound development on Pilgrim Street is creating hun- dreds of thousands of sq ft of Grade-A office accommodation at sites including Pilgrim Quarter, Bank House, and 1 Pilgrim Place. The 7.9-hectare Pilgrim Place development repre- sents one of the most strategically important regeneration schemes the city has ever seen.
Along the banks of the River Wear, the city of Sunderland has embarked on one of the most ambitious city centre regeneration projects in the UK. Riverside Sunderland – a 32-hec- tare site in the heart of the city – will create a new central business district with one million square feet of modern office space, including suitable sites for small businesses and start- ups, homes and cultural venues. Further up the river is the site of the potential £450 mil- lion Crown Works Studios supporting the film and TV sector, which is expected to support the creation of more than 8,000 jobs.
Further down the region in the historic city of Durham, the ongoing development at Aykley
36 COMMERCIAL PROPERTY MONTHLY 2025
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